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Price hike fears? March sees highest year-end sales for carmakers

Corporate Apr 1, 2012

Toyota sales jump 87 percent in Jan-March quarter

Toyota Kirloskar Motor today reported an 87 per cent increase in car sales to 18,220 units in March, driven by highest ever monthly sales of its 'Etios' and 'Liva' models.

The company had sold 9,726 units in the corresponding month last year, Toyota Kirloskar Motor (TKM) said in a statement. The company, however, has also said the demand next month could be impacted due to the increase in excise duty, registration tax and VAT. TKM, a joint venture between the world's largest carmaker Toyota and the Kirloskar Group, attributed the growth last month to healthy sales of its Etios and Liva models.

Source: AP

"Etios continues to register high sales... The company registered 85 per cent growth in the first quarter. However, the demand next month could be impacted due to the increase in excise duty, registration tax and VAT," TKM Deputy Managing Director (Marketing) Sandeep Singh said.

Auto makers like Maruti Suzuki, Hyundai, Tata Motors, Mahindra & Mahindra and India Yamaha had also expressed their unhappiness over the government's decision to hike the duties in the Budget.

Etios registered a 57 per cent growth with the highest ever monthly sales of 5,104 units compared to 3,257 units in March 2011. The Etios Liva also recorded its highest ever monthly sales with 4,034 units. The New Innova sold 6,765 units last month against 4,418 units in March last year, a growth of 53 per cent. The New Fortuner sold 1,379 units over 980 units in the same month last year, up 41 per cent, while the Corolla Altis sold 917 units.


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