As a few companies in the Indian car market reported an increase, Toyota Kirloskar Motor announced a fall of 6 per cent in its sales for the month of August 2013. According to sources, the Indian arm of the Japanese auto giant managed to sell 15201 units in August 2013 in comparison to 16225 units delivered in the same month last year. Getting a little specific, in the domestic market, Toyota Kirloskar Motor clocked sales of 13995 cars in August 2012 whereas this year it has been able to sell only 12007 in the same month. Statistics suggest that the firm exported around 3194 units of the Etios series during the period.
Sandeep Singh, Deputy Managing Director and Chief Operating Officer (Marketing and Commercial) at Toyota Kirloskar Motor, spoke about the sales clocked by the company in the month of August, 2013. “With the rupee depreciation and rising inflation we have increased the prices of Camry Petrol and Fortuner. The prices have been increased by 1 per cent. Last month we launched the Camry Hybrid, this is in line with offering advanced technology to our customers and encouraging the use of hybrid in India thereby contributing to a greener tomorrow. The market is still sluggish, however we hope to see the market improve with good monsoons and the upcoming festive season," he was quoted as saying.
Industry experts believe that the condition of Indian auto market is not going to improve in coming times. despite a rise in sales during the month of August. Car makers, however, are undeterred by the slump prevailing in India and are gearing up to introduce new models in the market. Several car companies in the country are planning to launch new vehicles in coming months, something that is likely to attract buyers. The Indian car market has been witnessing a slump for the past few months, witnessing a decline for nine months on the trot. However, the industry managed to tread back into the positive territory for the month of August, something that experts believe is temporary. The kind of crisis prevalent in the Indian economy is worsening day by day. With the fall in the value of rupee, cost inputs are rising continuously, which is turn is forcing car makers to raise prices to keep their profit margins intact.
Although industry analysts have said that the future of Indian car market is not expected to be really healthy, auto makers are banking heavily on the launch of new vehicles to turn the tide in their favour. Toyota Kirloskar Motor recently introduced the Camry Hybrid in India at a price of Rs. 29.75 lakh (ex-showroom, New Delhi). Even though the market for hybrid models is limited in the country, Toyota expects the car to create a niche for itself and make buyers aware about the environmental benefits of the vehicle. After launching the Toyota Camry Hybrid, the company, according to reports, is lining up the facelifted version of the Innova, which is scheduled to hit Indian showrooms by September 2013.
