Toyota Kirloskar Motor, the Indian arm of Toyota Motor Corp has recorded a 17% growth in 2015 February. The firm sold 13,280 units higher to 11,286 pieces sold a year ago; the exported market witnessed a significant growth with 24.84% profit. Etios series is a key player and the company exported 1,478 units, higher to 1,184 pieced exported in the corresponding period.
The company has recorded admirable profits in 2015 January as well, with 15.46% profits, the Whole Time Director and Vice Chairman of Toyota Kirloskar Motor, Shekhar Vishwanathan, said, the budget announced this year is towards progress and trigger to fuel vast business development. The budget emphasizes on skill development, insurance and job creation, and the lowering of custom duty prices on manufacturing costs and raw materials will aid in greater progress outcomes of Indian automobile industry.
The Senior Vice President and Director of the marketing and sale department of Toyota Kirloskar Motor said, the automobile market is hoping to witness a reduction in excise duty in order for the industry to re-witness growth momentum. The Finance Minister, Arun Jaitley is working out strategies to fund electric vehicle construction and technology.
The automobile market scenario in India has been sluggish for over two years; sales have taken a setback mainly caused by the pressurized macro-economy. Inflation took a toll on the affordability of petrol and commodity prices. The annual consumer inflation rate in India increased to 5.11% in January, significantly higher to 4.28% noted a month earlier.
Toyota Kirloskar Motor is a highly established auto brand in India and for years the firm has amazed the public with top quality cars. Some of the best sellers are Corolla, Etios, Etios Liva, Fortuner and Innova. The automobile market is showing signs of improvement, and to sustain the high-intensity competition and economic pressures, companies are adopting localization and cost-effective strategies.
There are some amazing upcoming Toyota cars to look forward to, and there are fresh products that are not very common to the Indian market. Within the year 2015, the company will launch Camry facelift, 2015 Hiace and Vios. In 2016 the company will introduce Avanza two wheel drive (2WD) and 2016 Innova.
The year 2015 and beyond is exhilarating for ardent Toyota fans, the new product range extends from affordable to luxury cars. The new products are 2015 Hiace and Vios, it is a commendable strategy for the company to introduce a couple of uncommon products in India, to fight the harsh competition.
The company has churned 17% profits on the current range of products, and with the forthcoming models, the attraction towards the Toyota brand is only going to get bigger. The new Innova is a more contemporary variant of the current model, and the same strategy is incorporated into the new Fortuner, and driving the two luxurious family cars is going to be more desirable than ever.
There is no better feeling than owning a brand new Toyota car and the upcoming model line-up will drive anyone crazy.