Toyota registers over 60% YoY sales growth in October 2023
What's the story
Japanese automaker Toyota experienced a surge in sales during the festive season, with over 21,000 units sold in October.
The company announced that it sold more than 20,000 vehicles in India and exported an additional 1,000 units to other countries.
Although sales slightly dipped from September's record-breaking 23,590 units, Toyota remains in a robust position due to heightened festive demand.
Details
Here's a look at the figures
In October, Toyota Kirloskar Motor witnessed a 66% sales increase compared to the same month in 2022.
The company delivered 21,879 units, with 20,542 dispatched the same month, a significant rise from the 13,143 units sold in October 2022.
In September, Toyota delivered 22,168 vehicles across India. Exports for October reached 1,337 units, a slight decrease from September's 1,422 units.
Insights
Toyota's expansion and record sales
During the first half of 2023, Toyota India's sales grew by 35% to 123,939 units compared to 91,843 units in the same period last year.
The company is on track for a record-breaking year in terms of sales.
To further extend its reach across India, Toyota has expanded its number of showrooms from 577 to 612 in 2023.
What Next?
What about Hyundai?
Hyundai has announced that its domestic sales rose 15% to 55,128 units in October 2023, up from 48,001 units in the same month last year.
Meanwhile, exports climbed 36% year-on-year (YoY) to 13,600 units last month.
The firm's total wholesales climbed by 18% YoY to 68,728 units in October. To note, the South Korean company had dispatched 58,006 cars in October 2022.
Figures
Here's how Tata Motors fared
Tata Motors' passenger vehicle sales in India, rose by 7% in October this year.
The firm sold 48,337 cars last month including ICE-powered vehicles and EVs, up from 45,217 units the same month, a year back.
In October this year, EV sales surged by 28%. Separately, the firm's exports from India climbed 46% to 300 units last month.
This is much higher than the 206 units exported in the same month in 2022.