Toyota Kirloskar expects 10-12% growth in FY17, despite sales drop in May

Company plans to focus on developing high-value cars

The strategy of Toyota Kirloskar Motor of developing high-value cars has started yielding results. The company’s sales rose 22 per cent last year to $2.5 billion and it expects sales to climb 10-12 per cent this year.

Despite reporting a drop in sales in May and with expectations of a slide in June, Toyota Kirloskar Motor is optimistic about sales growth in 2017.

Vikram Kirloskar, vice-chairman, Toyota Kirloskar Motor, told Business Standard sales would grow around 10-12 per cent by value because the company was making more high-value cars. He noted, sales had grown 20-22 per cent in value last year to