Toyota Kirloskar Motor (TKM) has achieved significant milestones in its sales performance, marking a robust growth trajectory in both fiscal year 2023-24 and the month of March 2024. The company recorded a record sales volume of 2,63,512 units during FY23-24, reflecting a substantial growth of 48% compared to the previous fiscal year’s figure of 1,77,683 units (FY22-23).
Overview of Toyota Kirloskar Motor:
- Equity Participation: Toyota Motor Corporation (Japan) – 89%, Kirloskar Systems Limited (India) – 11%
- Number of Employees: Approximately 6,000
- Land Area: Approximately 432 acres (approx. 1,700,000 m2)
- Building Area: 74,000 m2
- Total Installed Production Capacity: Up to 3,42,000 units
Overview of TKM 1st Plant:
- Established: October 1997 (start of production: December 1999)
- Location: Bidadi
- Products: Innova HyCross, Innova Crysta, Fortuner, Legender manufactured in India
- Installed Production Capacity: Up to 1,32,000 units
Overview of TKM 2nd Plant:
- Start of Production: December 2010
- Location: On the site of Toyota Kirloskar Motor Private Limited, Bidadi
- Products: Camry Hybrid, Urban Cruiser Hyryder, Hilux
- Installed Production Capacity: Up to 2,10,000 units
In March 2024 alone, TKM recorded a remarkable 25% growth by selling 27,180 units, compared to 21,783 units in March 2023. Domestic sales accounted for 25,119 units, while exports totaled 2,061 units during the same month.
Reflecting on this impressive growth, Mr. Sabari Manohar, Vice President of Sales-Service-Used Car Business at Toyota Kirloskar Motor, expressed his excitement, stating, “We are thrilled to close both our wholesales for the 2023-24 fiscal year and March 2024 by recording the highest-ever units of 2,63,512 and 27,180, respectively.”
Mr. Manohar attributed the company’s success to its customer-oriented approach, stating that Toyota has always been proactive in understanding and meeting the diverse needs of its customers. He emphasized Toyota’s commitment to enhancing customer touchpoints and creating delightful ownership experiences.
TKM’s strong product portfolio, including models like the Innova Crysta, Innova HyCross, Fortuner, Legender, Urban Cruiser Hyryder, Hilux, and LC300, has been instrumental in driving its sales growth. Additionally, the company’s investment in enhancing digitalization, financial tie-ups, and value-added services has further bolstered its market position.
In 2023, TKM expanded its annual production capacity by almost 32,000 units to meet the growing demand. The company also made new investments of INR 3,300 crores to gear up for its next phase of business expansion, incorporating technological transformation to achieve carbon neutrality goals.
Looking ahead, TKM is poised to leverage emerging opportunities in both metro and non-metro markets, building on its strong foundation and customer-centric approach.
