Toyota records 24% sales growth in May 2024
Toyota has reported a significant 24% year-on-year increase in sales for May 2024, selling a total of 25,273 cars. This is a substantial rise from the 20,410 units retailed during the same month last year. The domestic sales for Toyota stood at 23,959 units, while exports accounted for the remaining 1,314 units. This represents an overall growth of 24% compared to the same period in 2023.
UV models drive sales increase
UV models like Innova Crysta, Innova Hycross, Fortuner, Urban Cruiser Hyryder, Legender, Hilux, and LC300 were key contributors to Toyota's sales growth. The company also saw a 23% month-on-month increase in sales from April 2024 when it sold 20,494 units. Vice President Sabari Manohar attributed this success to their customer-centric approach and diverse product offerings. He stated, "We continue to post double-digit growth in the month of May 2024 by reporting 24% growth as compared to the previous year."
Toyota's diverse portfolio fuels growth
Manohar further highlighted the role of their diversified portfolio in driving growth. He stated, "Our diversified portfolio consisting of multi-pathway powertrains and designed to deliver enhanced value is at the forefront of our growth." Strong sales from Camry Hybrid, Rumion, Glanza, and Vellfire significantly contributed to their upward trajectory.
Toyota's sales surge in first five months of 2024
In addition to its monthly success, Toyota also recorded a substantial growth of 48% in volumes, in the first five months of 2024. The company sold a total of 122,776 units between January and May, marking a significant increase from the 82,763 units retailed during the same period in the previous year. This early success underscores Toyota's strong performance and growing market presence.
