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Toyota Kirloskar Motor

Jan 22, 2020, 01.21 AM IST

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TOYOTA KIRLOSKAR MOTOR

Expect auto sales to pick up in third quarter of 2020: Toyota Kirloskar

The automobile industry recorded its worst-ever sales decline in two decades in 2019, with an unprecedented slowdown hampering vehicle offtake across segments. The overall wholesale of vehicles declined 13.77 per cent to 2,30,73,438 units as against 2,67,58,787 units in 2018.

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  • The industry is estimating sales to fall 13% from last year — worse than an 8% decline, the steepest so far, recorded in 1998 — to about 2.95 million units in 2019. This would take the volume below the levels three years back. In 2016, automakers had sold nearly 2.97 million units.

    Led by a series of new launches, the multiple purpose vehicles (MPV), or family cars, are back. The segment registered 35% growth in 2019 to 2.2 lakh units, with cars priced between Rs 6 lakh and Rs 25 lakh. By contrast, most segments of the automotive market contracted, often in double digits. So, the share of MPVs in India has risen from 5% to 8%.

    Most startups to display products and technology in e-mobility space.

    "We have consciously lowered the volume of vehicles sold to dealers to ensure lean inventory/avoid high market offers, we are adjusting our production to ensure we do not put any excess burden on our dealerships before the shift to BS-VI in April 2020," TKM Deputy Managing Director N Raja said.

    The upward revision in the ex-showroom prices of its motorcycles and scooters will be effective from January 1, 2010.

    Toyota Kirloskar Motor (TKM) reported a 22 per cent annual decline in November from 10,721 units last year. Exports, especially the Etios model, however, grew 39 per cent annually. As a result, total sales for the month under review declined 19 per cent year-on-year to 9,241 units from 11,390 units in November 2018.

    Huge discounts and extended warranty have attracted consumers looking for value buys.

    The prices of Seltos have been revised upwards by Rs 20,000 to Rs 35,000 across variants. The launch price of Rs 9.69 lakh, ex-showroom for the base variant was an introductory price limited only till 31 December 2019, said Kia Motor India, the Indian arm of Korean carmaker.

    Owing to the transition in Bharat Stage-VI emission norms, wholesale dispatches of passenger vehicles of leading carmakers including Maruti Suzuki, Hyundai and Toyota marginally fell last month due to sluggish demand. The companies adjusted the inventory to ensure that there is no pending BS-IV inventory at dealerships by March 30.

    While the cos scale up production of BS-VI vehicles, even as oil marketing companies make fuel compliant with the new regulations available pan India, they will seek to clear the stock of BS-IV units that cannot be sold or registered from April 1. BS-VI fuels aren’t currently available in most parts of the country.

    The companies are trying to ensure that there is no fire sale, as seen during the transition from BS-III to BS-IV transition for two-wheelers and commercial vehicles.

    JD Power 2019 India Sales Satisfaction Index noted that buyers are placing more emphasis (up 9 percentage points from 2018) on vehicle styling, both exterior and interior, when deciding on a model. Other aspects such as performance and reliability, as well as technology (up 5 percentage points) also play bigger roles in determining choice of vehicle.

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