Back in May 2020, Toyota gradually resumed operations at its facility in Bidadi, Karnataka. Subsequently, the company started catering to the pending customer orders that had accumulated over the past few months. The company sold 3,866 units in June as compared to 1,639 units sold in May, thereby witnessing a growth of 235 per cent. That said, the company sold 10,603 units in the domestic market in June 2019 and exported 804 units of the Etios. The sales for Toyota is expected to witness a healthy gradual growth over the next few months with the relaxations in norms.
With lockdown regulations being relaxed in several parts of the country and with demand picking up in the market, Toyota dealers reportedly sold vehicles to customers from their held inventory in May 2020 thereby ensuring a lean inventory at the dealership by end of May.
Naveen Soni, Vice President of Sales and Service, TKM said, “With demand gradually coming back in the market and with strong support from our dealer partners as well as the hard work of our SBUs (Strategic Business Units), we have been able to keep up with customer expectations. Thanks to our special financing offers and buy back offers which has also helped bring customers back to dealerships. Our retails (sales from dealers to customers) is nearly double of wholesales (sales from TKM to dealers) second month in a row thereby bringing down our dealers inventory carrying cost by more than 50 per cent over the past two months. We are also seeing a visible growth in online enquiries as well as bookings.”
The company claims to have witnessed a shift towards the entry level suffix and based on trend will adjust the future production. The company will follow the Toyota Pull System to supply the vehicle to the dealers based on when it is required, where it is required and how much is required. Toyota will also ramp up the production in the days to come with all the safety protocols in-place.