India’s economic fundamentals strong, hopeful of growth trajectory: Toyota (IANS Special)

By Rohit Vaid New Delhi, Nov 30 : Even as pent-up demand wanes, auto major Toyota Kirloskar Motor (TKM) is optimistic about the future growth trajectory via low interest rate regime, promotional offers as well as India’s sound economic fundamentals.
Apart from Covid-19 related struggles, the company has faced labour issues lately. Nonetheless, it has managed to hold the fort on the back of steady rise in sales numbers and optimising its production levels.
In a conversation with IANS, Toyota Kirloskar Motor’s Senior VP (Sales and Service) Naveen Soni attributed the steady recovery over the last few months to factors such as pent-up demand, festive season, consolidation of the market at the lower end due to increasing preference for personal mobility, and attractive offers and schemes unveiled by auto OEMs in association with banks and NBFCs.
In the just concluded festive season, TKM witnessed a 10 to 13 per cent increase in orders on Dhanteras compared with the same period last year.
This year, Dhanteras was celebrated over two days across the country and hence in terms of retail sales too, the company witnessed a 12 per cent growth when compared with Dhanteras in 2019.
However, with the end of festive season and pent-up demand tapering off, the company is counting on the rising need of personal mobility, low interest rates, along with the variety of schemes, to propel sales.