Page 2 - Toyota Kirloskar Motor

Safety issue: Toyota to oversee model certification at subsidiary Daihatsu

Japanese automaker Toyota will oversee model certification at its subsidiary Daihatsu to regain trust among dealers, customers and workers after a safety testing scandal, Daihatsu's new president said Monday. Toyota Motor Corp. will take a leadership role in various areas, including product development and procurement, said Masahiro Inoue, who took the helm of Daihatsu in March. I have been spending each and every day, vowing to revive Daihatsu, said Inoue, who previously oversaw Toyota's business in South America. His predecessor at Daihatsu resigned after the allegations of widespread cheating on safety testing surfaced last year. A third-party review found violations, such as testing just one side of a car instead of both, had persisted for decades. Production at Daihatsu Motor Co was halted by a government order until proper tests can be done and a system set up to prevent a recurrence. Only some production has since resumed. Daihatsu is known for smaller kei" cars and off-road

Toyota Kirloskar looks to introduce more premium models in India: Official

Toyota Kirloskar Motor is looking to drive in more premium models in the country with customers gradually moving towards bigger-sized vehicles in the market, according to a senior company executive. The company, which sells models like Innova and Fortuner, on Wednesday expanded its range in the country with the introduction of entry-level SUV Urban Cruiser Taisor. In an interaction with PTI, Toyota Kirloskar Motor Deputy Managing Director Tadashi Asazuma (Sales and Marketing) said the company aims to cater to the diverse customer requirements in the market. He noted that the company also plans to have models with diverse powertrains, including hybrid and battery electric vehicles in its portfolio in the country. Asazuma said customers are shifting from small cars to bigger cars gradually and that is one reason the company is even expanding its production capacity with a new manufacturing plant to offer new models. When asked if the company would look at bringing in more premium ca

Toyota Kirloskar sees highest-ever monthly sales at 27,180 units in March

Toyota Kirloskar Motor on Monday reported its highest-ever monthly wholesales at 27,180 units in March. The company's total dispatches to dealers increased 25 per cent last month to 22,910 units as compared with 21,783 units in March 2023. For the 2023-24 fiscal the company reported the highest-ever wholesales of 2,63,512 units, an increase of 48 per cent as against 1,77,683 units in 2022-23. "We are thrilled to close both our wholesales for 2023-24 fiscal year and March 2024 by recording the highest-ever units of 2,63,512 and 27,180 respectively," Toyota Kirloskar Motor (TKM) Vice President, Sales-Service-Used Car Business Sabari Manohar said in a statement. With a customer-oriented approach, the company has always remained ahead in assessing and understanding the diverse needs of varied customers and market trends, serving them the best with our wider range of quality products and services, he added. "We will continue to do so with an emphasis to meet the rising consumer demands

Toyota Kirloskar Motor to raise prices on select vehicles from April 1

Automaker Toyota Kirloskar Motor on Thursday said it plans to increase prices of select vehicles up to 1 per cent from April 1 citing rising input costs and operational expenditures. In a statement, the company said it is planning to increase prices of certain grades of its specific models effective April, 1 2024. "With an anticipated 1 per cent increase, the move is attributed to escalating input costs and operational expenditures," Toyota Kirloskar Motor (TKM) said. TKM sells a range of vehicles starting from hatchback Glanza to premium SUV Fortuner which are priced between Rs 6.86 lakh and Rs 51.44 lakh.

Toyota Kirloskar Auto Parts now eligible to avail incentives under PLI

The product has also met the testing criteria of AAT, and is certified by the Automotive Research Association of India (ARAI), the company stated

President, chairman of scandal-hit Daihatsu unit to step down, says Toyota

Daihatsu's chairman, Sunao Matsubayashi, will also step down and not be replaced, Toyota said

Auto major Toyota Kirloskar Motor sales up 45% at 233,346 units in 2023

Toyota Kirloskar Motor on Monday reported a 46 per growth in wholesales at 2,33,346 units in 2023. The company's wholesales stood at 1,60,364 units a year ago. Domestic sales accounted for 2,21,356 units in 2023 as compared to 1,60,364 units in 2022, Toyota Kirloskar Motor (TKM) said in a statement. Exports in 2023 were at 11,984 units, it added. "(The) growth of 46 per cent as compared to last CY (calendar year) came from across the product portfolio. The consistent month-on-month performance, coupled with a year-round upward trend, indicates a growing customer interest in all our line-up of cars," TKM Vice President of Sales and Strategic Marketing Atul Sood said. In December 2023, TKM said it sold 22,867 units, a growth of 119 per cent over 10,421 units sold in December 2022.

Toyota Kirloskar Motor confident of continuing strong growth in 2024

Toyota Kirloskar Motor on Wednesday said it expects to continue the strong momentum next year after closing 2023 with record sales as rising demand from tier II and III markets is slated to fuel further growth. The company is set for a record year in terms of sales in 2023. It has already clocked a total of 2,10,479 units in the January-November period of 2023, beating the previous highest yearly sales of 1.72 lakh units in 2012. "At TKM (Toyota Kirloskar Motor), we are equally confident for the next year, fuelled by the rising demand from tier II and III markets and overall buoyant customer sentiments. Our primary focus is on further elevating the customer experience to meet their evolving needs," company Vice President of Sales and Strategic Marketing, Atul Sood said in a statement. Further, he said the company is also "looking forward to creating a lot more buzz around our sustainable offerings in the mass electrification space, contributing to our goal of carbon neutrality". So

India to act as automaker Toyota Motor Corporation's regional Hub

Japanese auto major Toyota Motor Corporation on Friday announced a regional restructuring with India being integrated into its 'Middle East, East Asia & Oceania Region' operations and slotting the country to act as the hub of the new geography. As part of this development, Masakazu Yoshimura, MD and CEO of Toyota Kirloskar Motor (TKM) -- the company's joint venture in India with the Kirloskar group -- will concurrently be the Regional CEO, Toyota Motor Corporation (TMC) said in a statement. "Currently, as a part of the Asia Region, the Indian market already enjoys high priority. With this change, India will now play an even more crucial role by being integrated into the Middle East, East Asia & Oceania Region and acting as the hub of the new 'India, Middle East, East Asia & Oceania Region' starting January 1, 2024," it said. TMC further said, "The new reorganisation, which underlines the growing significance of India in Toyota's global business landscape, reflects the ...

Toyota Kirloskar Motor sales up by 51% at 17,818 units in November

Toyota Kirloskar Motor on Friday reported 51 per cent growth in sales at 17,818 units in November 2023 as compared to the year-ago month. The company had sold 11,765 units in November 2022, Toyota Kirloskar Motor (TKM) said in a statement. Domestic sales last month were at 16,924 units in the domestic market, while exports stood at 894 units, it added. The company had undertaken a week-long maintenance shutdown from November 11-19, 2023 for upkeep of machinery and equipment to sustain operational efficiencies, maintain quality and safety, the statement said. "We recorded a strong festive season with healthy bookings, and we are extremely thrilled to see the market responding very positively to our entire product range," TKM Vice President of Sales and Strategic Marketing Atul Sood said. TKM said its cumulative sales for calendar year 2023 (January-November) stood at 2,10,497 units, up 40 per cent over the same period in 2022, when the sales were 1,49,995 units.

Toyota expects Indian PV market to carry momentum of 2023 into 2024: Gulati

The Indian passenger vehicle market is expected to carry forward the momentum of this year to the next purely driven by economic fundamentals, having already moved beyond pent-up demand-induced growth, according to Toyota Kirloskar Motor Executive Vice President & Country Head Vikram Gulati. While the SUVs are expected to witness fast growth in general in 2024, the mid to higher end of the segment will also see faster acceleration, although the small cars category will remain a concern. "I think the market is growing. It will continue to grow in a very healthy way. We are well beyond the part when people were saying this is pent-up demand. We have built much beyond that, and the festive season has seen very good pickup," Gulati told PTI when asked about the outlook for 2024. He further said, "Going forward, I think the fundamentals are good. In terms of the economic forecast, our economy continues to be stable and growing amidst a very turbulent environment." Despite the shocks of

Toyota Kirloskar Motor to invest Rs 3,300 cr to set up new Karnataka plant

Toyota Kirloskar Motor on Tuesday announced plans to invest Rs 3,300 crore to set up its third plant at Bidadi in Karnataka. The new unit, which will commence production by 2026, will have an annual capacity of 1 lakh units in two shifts. It will come up at the company's existing facility at Bidadi, near here where it currently has two units with a combined installed production capacity of up to 3.42 lakh units annually. The new plant, apart from producing multi-utility vehicle Innova HyCross, will be "future ready" to roll out models spanning across different fuel technologies, Toyota Kirloskar Motor (TKM) Executive Vice President & Country Head Vikram Gulati told PTI. "I believe, we are as a company future-ready, both in terms of access to technology, access to well-accepted products across various powertrains as also access to the ability to bring these products to market," he said. He further said in the industry, it doesn't take too much for the same line or some lines to be

Toyota Kirloskar Motor reports 66% jump in sales in October to 21,879 units

Earlier this year, media reports stated that Japanese auto major Toyota is looking to set up a third manufacturing plant in India

Toyota reports its highest-ever monthly sales in September at 23,590 units

Toyota Kirloskar Motor on Sunday said its total wholesales increased 53 per cent year-on-year to 23,590 units in September, its highest-ever in a month. The automaker had dispatched 15,378 units to dealers in the same month last year. Total sales achieved include 22,168 domestic units and export of 1,422 units, Toyota Kirloskar Motor said in a statement. Toyota Kirloskar Motor Vice President of Sales and Strategic Marketing Atul Sood said the sales performance underlines the growing acceptance of the company's diverse product portfolio. "We are witnessing sustained demand across our product line-up which is leading to the company's record-breaking performance... As we move forward in the festive season, we are expecting a promising period with demand continuing to grow thus further enhancing our sales performance," he added. The automaker said wholesales grew 35 per cent to 1,23,939 units in the first six months of the current fiscal year, compared to 91,843 units in the same peri

Toyota Kirloskar Motor expects record sales in bet on 'looks', high output

The company posted a net profit of Rs 1,404 crore in FY23, about 2.7 times more than its net profit in FY22

Toyota records highest-ever monthly sales at 22,910 units in August

Toyota Kirloskar Motor (TKM) on Friday reported its best-ever monthly sales at 22,910 units in August. The company's total dispatches to dealers increased by 53 per cent last month to 22,910 units as compared with 14,959 units in August 2022. The company said it sold 20,970 units in the domestic market last month. Exports stood at 1,940 units last month, it added. "Strong sales volume and enhanced demand showcase customers' ever-growing affinity for the brand. Toyota Urban Cruiser Hyryder and Innova Hycross continue to register a strong demand," TKM Vice President of Sales, and Strategic Marketing Atul Sood said in a statement. The Innova Crysta, Fortuner and Legendar are witnessing sustained segment leadership, he added. "Encouraged by the overwhelming response to our entire portfolio, we are constantly working on expanding our product portfolio to offer customers wider choices. In-line with the same, we announced two new launches in the month of August," Sood said. The company

Toyota introduces Rumion, looks to bolster presence in MPV segment

Toyota Kirloskar Motor on Thursday introduced an all-new model Rumion in the country as it looks to further strengthen its position in the robustly growing domestic multi purpose vehicle (MPV) segment. The seven-seater model comes with a 1.5-litre petrol engine mated with a five-speed manual and six-speed automatic transmissions. It also features a CNG trim. Toyota Kirloskar Motor (TKM) said the prices and booking date of the model will be announced in due course of time. It, however, noted that the vehicle be available from the early festive season in dealerships for deliveries. "At Toyota, we believe in going beyond delivering world-class vehicles. Our deep-rooted culture is to offer products and services that create exceptional value and offer peace of mind to our loyal customers. The all-new Toyota Rumion embraces this ethos," TKM Managing Director and Chief Executive Officer Masakazu Yoshimura said in a statement. As a brand, that is deeply committed to the Indian market and

Toyota registers best-ever monthly vehicle sales in July at 21,911 units

As a part of expanding its footprint in the Indian market, Toyota is leveraging its partnership with Maruti Suzuki to introduce rebadged Maruti cars

After passing rigorous tests, Toyota Hilux joins Indian Army vehicle fleet

Toyota Hilux was tested in rough terrain and challenging weather conditions which included driving it at altitudes of 13,000 feet to testing its performance at sub-zero temperatures

Toyota Kirloskar Motor hikes vehicle prices by 1% due to rise in input cost

Toyota Kirloskar Motor (TKM) on Thursday said it has hiked the prices of its models by around 1 per cent in order to offset the impact of an increase in input cost. The company, which sells models like Innova Crysta and Fortuner, has realigned the prices of its models with effect from July 5, 2023, TKM said in a statement. The increase was necessitated to partially offset the rising input cost, it added. "As a customer-centric company, we remain committed to cater to the ever-evolving needs of the market and all efforts have been made to ensure that the impact of the cost increase passing on to our customers is minimal," it noted.