[RavenAvi]

The truly iconic Toyota Innova MPV, now present in the Indian passenger vehicle market in it's Crysta avatar, is the highest turnover grosser among all Indian car brands in the market.

For AY2016, the Innova brand has contributed an estimated $2.4 billion to the company's Indian arm's annual turnover, which is the highest by any brand in the Indian passenger vehicle space.

Toyota India's other bestseller, the Fortuner SUV, grossed around $500 million for AY2016. Both cars sold over 81,000 units during this period.

Other car brands which have generated over $1 billion in turnover for their companies in the mainstream Indian car market space are the Hyundai Creta, the Honda City, the Mahindra XUV500 and the Scorpio, the Maruti-Suzuki Ciaz and the Vitara Brezza.

(Source (Toyota Innova Crysta : Official Review))

The market size of the above Rs 10 lakh segment stood at 3.18 lakh units in 2016, with Toyota cornering almost a quarter of that market share.

Such is the cult value of Innova that about 47% of the buyers in 2016 were already its owners, majority of whom had traded the older version for the newer model. The company is currently sitting on an order book position of Rs 4,000 crore to Rs 4,300 crore for both Innova and Fortuner.

N Raja, senior vice-president, marketing and sales at Toyota Kirloskar, said, "Considering the price segment, sales of 60,000 units in just eight months is a big milestone for both Fortuner and Innova. Against the backdrop of diesel ban and demonetisation, we are targeting to achieve similar volumes of 2016. However, we may alter the same depending on the demand situation,” he added.

Despite a revenue loss in FY16 due to diesel ban, Toyota managed to register its second-highest profit in the last fiscal year at Rs 504 crore. And this profit was achieved with a capacity utilisation of just 40-50%. With strong Innova and Fortuner numbers, Toyota Kirloskar is gunning for a turnover of over $3 billion or Rs 19,500 crore to Rs 20,000 crore in FY17.

ET Auto

[Axe77]

Incredible status for the Innova / Crysta. What amazes me are the Brezza / Creta data points though. $1 bio plus is an incredible number for its relatively modest life span compared to some of the other names there.

[Amit_breakfree]

This is an amazing feat and more so when you see that these two cars are not cheap. These two are actually Toyota's bread and butter model in India and they are going from strength to strength. There is still no competition to Innova, but I sincerely hope Hexa can provide the same. While Fortuner is going strong, despite competition from Endevour.

Further, if we can reduce the criteria, to say, $500 million, then I think more cars can enter the list, most notably, Maruti's Swift, Baleno; and Hyundai's i20.

[geotracks]

Very impressive numbers indeed. Toyota has done it again.

Would be good to see what the numbers look like if cab segment & fleet operator purchases are removed.

World over Toyota's strategy works because they are heavy into commercial segment, e.g. in the US, Dubai, Singapore etc. many cabs are Toyotas.

[deovrat]

Many, including yours truly it has to be said, were a little bit sceptical when Toyota decided to pull the plug on the reasonably well doing Qualis and decided to move into the upmarket segment. Happy to eat humble pie now

Well done Toyota, your move has paid off and how !

[GrammarNazi]

That's a lot of money for Indians to've spent on cars, and considering Toyota's thick margins, I hope they stop withholding the advanced features that they offer in other markets/countries, for their future offerings in India (read Etios replacement).

[dark.knight]

Most of the cars in the list are famous for their high margins in their respective segments. Mathematically my view is this :

- Every country has a favourite type of car shape, be it large sedans, crossovers, MUV's etc. India loves its crossovers/MUV's because a) large size giving a perception of better value and b) space and roominess. Toyota learnt it and now everyone else has.

- Innova is in a segment of its own, its a people-mover, has flexi-seating capability and has an undying reputation of reliability and serves those in the 20+lakh budget range.

- Creta has the Hyundai badge, the reliability & service support factor, and is easily available for those in the 15+ lakh budget.

- Honda City has the "City" badge, a car known to be the symbol for financial success for most middle-class Indians. Its the car with the maximum space and gadgetry in its class so it sells.

Given all the factors as above, its evident that Innova, Creta, City & Brezza though overpriced in descending order respectively, will sell because of a certain combination of brand appeal+space+tech+perceived value and hence they will be top "grossers" without doubt.

Man I hate that the Indian car industry is being compared on the lines of garbage Indian cinema more and more with every passing day.

[Alfresco]

Toyota's reputation has been well established in India and it is going to be extremely difficult for any player to dislodge them.
The first Innova came out in 2005. The last Innova was sold in 2016. A 15 year life span means that you shall be seeing first generation Innovas on the road till 2031 (I am including all tweaked and facelifted versions). Toyota supports its vehicles in terms of spare parts and so its reputation is going to solidify by leaps and bounds when people see the Innovas still running strong for 25 years!

[Carma2017]

Toyota will have to look up the price leader with the Japanese government leaning solidly on them to not compete with Suzuki but collaborate. So, I guess we can expect more Innovaish vehicular action above the 10Lac+ range.Suzuki meanwhile will take in the numbers from the cheaper cars.

[DicKy]

Originally Posted by Carma2017

Toyota will have to look up the price leader with the Japanese government leaning solidly on them to not compete with Suzuki but collaborate. So, I guess we can expect more Innovaish vehicular action above the 10Lac+ range.Suzuki meanwhile will take in the numbers from the cheaper cars.

, but WOW

That's news. Know that the Japanese government interferes and 'guides' companies for the overall health of the Japanese economy. Also, heard how the govt might have gently forced Toyota to take up the JV with Suzuki.

Never thought there would be a 'no compete' gentlemen's agreement regarding the Indian market in Japan.

But when Toyota is comfortably making profits regularly, without selling much in volumes, why should they complain for the Indian market.

[Carma2017]

There is no agreement but the government here definitely does not like wasteful expenditure of R&D money. It is on the gentle nudge of the Government that Nissan and Mitsubishi joined hands. The Toyota- Suzuki-Mazda is the next Nexus followed by Honda. So, we have the new version of big Three like USA.

[The Brutailer]

Just proves that if you create a solid product, us Indians are ready to pay a little premium. Just don't sell us compromised cars.

Creta, Crysta, Endevour, Fortuner are all examples of this.

If you aren't willing to change / update / improve your cars, there'll be no space for you in Indian market (Chevrolet/Fiat?).

Competition in India is intense, and I'm very glad about it.

[GTO]

Originally Posted by RavenAvi

For AY2016, the Innova brand has contributed an estimated $2.4 billion to the company's Indian arm's annual turnover, which is the highest by any brand in the Indian passenger vehicle space.

2.4 billion = Rs. 16500 crores.

72000 Innovas were sold in 2016. Lets assume average factory billing per vehicle is 15 lakhs (am sure it's actually lower than that). Even then, it comes up to 10,800 crores. So, more like 1.5 billion than 2.4.

If one brings in the MRP at the dealer's end, it's surely 2+ billion.

Originally Posted by geotracks

Would be good to see what the numbers look like if cab segment & fleet operator purchases are removed.

IIRC, about 60% (or was it more) of Innova sales are from the taxi segment.

Originally Posted by DicKy

Never thought there would be a 'no compete' gentlemen's agreement regarding the Indian market in Japan.

Unless Toyota buys Suzuki one day, there's no way such a non-compete will be followed. The Toyota-Suzuki partnership was on the Japanese government's nudging, yes, but they can't dictate how to compete in a foreign market. End of the day, Toyota wants its own sales growth & revenue.

Originally Posted by The Brutailer

Just proves that if you create a solid product, us Indians are ready to pay a little premium. Just don't sell us compromised cars.

Well said & Toyota knows that only too well. It's 6 - 8 lakh cars aren't selling, but the 15 - 35 lakh cars are successes!