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Toyota: Dhanteras sales have improved YOY

Dhanteras sales have increased by 12% YoY.

Toyota registered an increase in the number of cars sold on the occasion of Dhanteras compared to the same period last year. Dhanteras sales have increased by 12% YoY.

The carmaker has stated that sales have gradually recovered over the last few months with the onset of the festive season. Special offers and schemes have also helped push demand. Sales grew by 10-13% YoY.

Despite this, Toyota expects demand for new cars to taper down at the beginning of the next month. Festive demand will last till about the end of November.

Toyota's official statement:

“We are witnessing a gradual but steady recovery over the last few months and this can be attributed to a few factors including, pent-up demand from the last few months, festive demand that has contributed to the overall sales in the month of October & November, consolidation of the market at the lower end due to personal mobility issues & finally, the kind of offers and schemes that OEMs have been offering to customers to push demand.

The first two factors being topical are bound to gradually taper down, beginning next month. We have already witnessed a decrease in demand created due to pent-up demand from 36% in the earlier months to around 20% last month. Similarly, festive demand will also last till about the end of this month. Therefore, what is more prone to sustain are factors like consolidation of the market at the lower end due to personal mobility issues and the variety of schemes & offers that OEMs can come up with.

If we talk about TKM sales & customer orders this festive season, there has been a 10%-13% increase in order taking this year on Dhanteras when compared to the same period last year. Dhanteras in 2020 has been celebrated over two days in various parts of the country and hence in terms of retail sales (dealer’s sale to customer) also, we have witnessed a 12% growth when compared to Dhanteras in 2019. We are hoping that sales in November will be more bullish when compared to October sales.”

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