Toyota registers 51% growth in November, sales surpass 17,800 units
Japanese auto giant Toyota reported a significant YoY growth of 51% in sales for November, selling 17,818 units in India. Atul Sood, Vice President of Sales and Strategic Marketing, expressed excitement over the strong festive season and positive market response to their product lineup. The company's total sales for 2023 reached 2.1 lakh units, which is a 40% increase from the 1.5 lakh units sold during the same period last year.
Popular models drive growth, company commemorates 25th anniversary in India
The surge in sales is attributed to popular models like the Fortuner, Innova Crysta, Hilux, Innova Hycross, and Legender. Sood mentioned that these vehicles "continue to steer our growth" and maintain leadership in their respective segments. The Urban Cruiser Hyryder, a mid-size SUV launched in 2022, has also gained significant traction. As Toyota celebrates its 25th anniversary in India, the company aims to end 2023 on a high note with a robust order book to fulfill.
Toyota's Rs. 3,300 crore investment for third plant in Karnataka
Toyota is investing Rs. 3,300 crore to establish its third manufacturing plant in Bidadi, Karnataka. This facility is expected to boost production capacity by around one lakh units per year. This new facility will also create close to 2,000 new job opportunities for people living near Bengaluru. With the ongoing popularity of SUVs in the Indian passenger vehicle market, the carmaker is confident in its potential for even greater success in 2024.
