Toyota Kirloskar offers new finance schemes to push retail sales
2 min read . Updated: 13 Jul 2020, 06:32 PM ISTIn the current fiscal, vehicle sales are likely to drop by more than 25% due to the prevailing economic slowdown, according to SIAM
Toyota Kirloskar Motor India on Tuesday announced new finance schemes to reduce upfront cost of buying vehicles for its potential customers. As vehicle sales is likely to decline by double digits due to the Covid -19 related disruptions, vehicle manufacturers are collaborating with financial institutions to offer attractive schemes for customers.
“The new deal includes a unique assured ‘buy back’ offer of 55% on the Yaris sedan and Glanza hatchback. In addition, the company has also launched several other notable schemes like a low EMI scheme of Rs. 9999 for Innova Crysta (a MPV) and an EMI deferment of three months across all Toyota models in the country to keep customer’s financial planning stable," the company said in statement.
In the current fiscal, vehicle sales are likely to drop by more than 25% due to the prevailing economic slowdown, according to Society of Indian Automobile Manufacturers (SIAM).
According to Naveen Soni, senior vice-president, Toyota Kirloskar Motor, the company is witnessing some good momentum in the market contributing to more than double the growth in sales that was witnessed in May. The other factor that has helped is the new and innovative finance schemes that Toyota has been offering to customers to cater to their personal mobility needs.
“We want to continue bringing in such schemes so as to be able to offer the most unique offers to choose from. The EMI schemes for all Toyota models and 55% assured buyback offer for Glanza and Yaris will help the customers in fulfilling their dreams to own a Toyota vehicle without any further delay".
With retail sales picking up after the removal of the lockdown in May, most manufacturers are trying to ramp up production according to the demand. Factors like rising cases of Covid-19 and lack of availability of manpower have limited the ability of auto makers to increase production of vehicles.
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