Toyota Kirloskar sales slump

Japanese-Indian car closed last month with a total sales of 11,284 units down from 13,979 units sold in February 2013

Japanese-Indian car joint venture Toyota Kirloskar Motor Saturday said it closed last month with a total sales of 11,284 units down from 13,979 units sold in February 2013.

In a statement, the company said it sold 10,100 units last month in the domestic market as compared to 12,756 units sold in February 2013.

"The excise duty cut was a welcome step taken by the government to revive sale. However, other factors like high interest rate, falling rupee and unstable fuel pricing still loom large in the market," N.Raja, senior vice president, Sales and Marketing was quoted as saying in the statement.