Toyota India Sold 2.63 Lakh Cars and SUVs In FY24; Sales Up By 48%

Toyota Kirloskar Motor has recorded its best-ever financial year with a record sales volume of 2,63,512 cars and SUVs in FY2023-24. The sales number represents a year-over-year growth of 48 per cent over FY22-23 when sales numbers stood at 1,77,683 units. The company states a majority of its sales came from its lineup of SUVs and MPVs, which include models such as the Innova Crysta, Innova Hycross, Fortuner, Urban Cruiser Hyryder, Rumion and Hilux.

Also Read: Toyota Innova Hycross Breezes Past 50,000 Unit Sales Milestone In India

The majority of Toyota's sales came from its lineup of SUVs and MPVs

Additionally, the company also reported sales of 27,180 cars and SUVs in March 2024, its highest-ever monthly sales figure yet. This includes 25,119 vehicles sold in India, and 2,061 exports. Sales in March 2024 represent a year-over-year increase of 25 per cent, up from sales of 21,783 units during the same period last year. The sales in March 2024 also represent a month-over-month increase of 7.77 per cent. 

Also Read: Toyota India To Set Up Third Production Facility At Bidadi With Fresh Rs 3,300 Crore Investment

Toyota announced its plans to set up a third production facility in November 2023

In 2023, Toyota scaled up production at its Bidadi plant in order to reduce waiting times for its entire product lineup. The automaker introduced a third shift at its plant, which boosted the company’s production by over 30 per cent. In November 2023, the automaker also announced its plans to set up a third production facility in Bidadi, with an investment of Rs 3300 crore. The new plant is expected to be completed by 2026 and will increase its annual production capacity by 1 lakh units.