Toyota Aims for Sales Growth with New Models & Network Expansion

New Delhi, Apr 6 (PTI) Toyota Kirloskar Motor aims to maintain sales volume growth in the current fiscal with plans to expand the sales network and introduce new models, according to a senior company executive.

The automaker, which reported record sales in the last fiscal, expects demand for its SUVs and MPVs to remain robust in the ongoing financial year.

In an interaction with PTI, Toyota Kirloskar Motor Vice President (Sales-Service-Used Car Business) Varinder Wadhwa said the automaker plans to increase its production capacity and explore electrification, including the introduction of battery electric vehicles as part of its commitment towards carbon neutrality.

"We believe, with the kind of product portfolio we have now, right from the small cars to the flagship offering, increased production capacity and our network which is further going to be enhanced in tier II, tier III market...all this will further help the company to consolidate and help play a bigger role in the Indian automobile market," he SAID.

Wadhwa noted that the company is looking to expand its presence in rural areas and smaller towns in the country.

"We have been enhancing our sales network. We want to get closer to our customers, especially now when we have a wider product range," he added.

Toyota Kirloskar Motor (TKM) currently has around 1,100 sales outlets across the country.

Wadhwa said the collaboration with Suzuki has enabled the automaker to introduce models like Glanza and Urban Cruiser Taisor, which have been received well in the domestic market.

The company is also witnessing healthy growth in exports as well.

TKM's overseas shipments grew by 59 per cent in FY25 compared to 2023-24, affirming India's growing stature as a strategic manufacturing and export base for Toyota globally, Wadhwa said.

With enhanced production capacity, the automaker expects to sustain growth momentum in overseas shipments in the current fiscal, he pointed out.

In 2023, TKM announced fresh investments of about Rs 3,300 crore for a third plant in Bidadi facility (near Bengaluru).

With the third plant expansion going mainstream in 2026, the automaker's annual production capacity at Bidadi (near Bengaluru) is expected to be augmented to 4.42 lakh units annually.

The automaker also plans to set up a new manufacturing plant in Maharashtra at an investment of around Rs 20,000 crore.

The company has been allotted 827 acres of land for a new manufacturing plant in Maharashtra's Chhatrapati Sambhajinagar.

For 2024-25, TKM reported its highest-ever sales in a financial year, driven by robust demand for SUVs and multi-purpose vehicles like Innova Crysta and Fortuner.

The company said it dispatched 3,37,148 units to dealers last fiscal, a growth of 28 per cent compared to 2,63,512 units in FY24.

In March, the company sold 30,043 units, a growth of 11 per cent from 27,180 units in the same month last year.