Bangalore, 1^st July 2021.

Toyota Kirloskar Motor today announced that the company sold a total of 8801 units in the month of June 2021, thereby registering a growth of 128% when compared to the domestic sales in the month of June 2020. Having resumed production at its plant on June 15^th, the company has been focusing on catering to the pending orders of customers.  TKM’s plant at Bidadi in Karnataka was shut owing to a scheduled annual plant maintenance starting 26^th April, which was then further extended as a result of the state-wide lockdown was announced by the Govt. of Karnataka. For reference, TKM had reported wholesales of 3866 units in the month of June 2020 and 707 units in the month of May 2021. The cumulative wholesales of TKM in the first six months of the calendar year 2021, stands at 59332 units when compared to 28686 units sold in the corresponding period last year, thereby registering a growth of 107%.

Commenting on the monthly sales, Mr. Naveen Soni, Sr. Vice President at TKM said, “Having resumed production with a 50% workforce last month after the gradual unlock in the state of Karnataka, our immediate goal was to cater to the pending orders of our customers. Although our dispatches only began by the third week of June, we have been able to register a 128% growth over domestic sales in June 2020. In terms of demand, we are witnessing good traction in the market arising out of ‘pent up demand’ and thereby leading to good levels of enquiries and new customer orders. We also anticipate retail sales to be better in the coming months, provided that the pandemic doesn’t pose newer challenges at us.

Having said that, we must bear in mind the fact that, relaxation of restrictions across states have not been uniform and hence the process of unlocking has been gradual and intermittent. Accordingly, our dealerships have been opening up sporadically and amidst various restrictions, including limitations pertaining to the number of manpower working at a time as well as the manhours of work they put in. Here, we must also take into consideration the fact that not just the auto industry, but as a country we are now coming out of a very difficult phase and it will take some time for the industry and the market to bounce back. Moreover, we are also focusing on vaccinating both our employees as well as their families and extending our support to have our dealer and supplier staff vaccinated too, so as to ensure lower risk & severity of infections. In fact, companywide, 96% of our employees have received their first dose of vaccination and we are in the process to complete vaccination for all our employees, including the ones ‘working from home’, concluded Mr. Soni.