Toyota Kirloskar Motor sales continue to decline; down 18% in April y-o-y

Toyota logos are seen at City Toyota in Daly City, California, US | Photo: Reuters

Toyota Kirloskar Motor (TKM) on Thursday reported 17.72 per cent decline in total sales to 11,413 units in April.

The company sold a total of 13,871 units in the same month last year, TKM said in a statement.

Domestic sales last month were at 10,112 units as against 13,037 units in April 2018, a decline of 22.43 per cent, it added.

Exports in April stood at 1,301 units as compared to 834 units in the year-ago month, a jump of 55.99 per cent.

"The industry is currently experiencing a slowdown due to uncertainty of general elections that looms over the market and this slow pace is expected to continue until the new government is formed," TKM Deputy Managing Director N Raja said.

Consumer sentiments have been dampened due to several factors like tight liquidity, high insurance, and high costs, he added.

On the outlook, he said,"we hope the sales growth momentum to pick up in the upcoming months post election results.

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