Indian subsidiary of Japanese car maker Toyota has recorded growth in its car sales for the month of November. According to statistics released by the firm, Toyota Kirloskar Motor registered sales of 12748 units in November 2013. These sales figures are 12 per cent higher than what the firm recorded in the corresponding period in 2012. However, it is the segmentation of these 12748 units that shows the real picture. Reports suggest that the firm sold 10208 cars in the domestic market while 2540 (Etios series) models were exported. Notably, domestic sales for Toyota have seen a slight decline as the company had sold 10352 units in November 2012.
The condition of the Indian car market has not been good in the past months as no significant change has taken place. Apart from a few auto makers, all companies are battling demand and sustenance issues in the market. Many expected the festive season to drive growth and improve things but nothing like that happened. In fact, sales figures of November have proved to be really bad for a number of car makers, which includes the likes of Tata Motors and Mahindra & Mahindra. Commenting on the same, Sandeep Singh, Deputy Managing Director and Chief Operating Officer (Marketing and Commercial) at Toyota Kirslokar, said, "The market continues to be sluggish and market sentiments are not expected to improve in the coming months.”
In order to overcome this situation, many car makers have relied heavily on exports. According to reports, India is slowly becoming an export hub for companies, who manufacture cars in the country and export them. In fact, in recent times, South Korean auto maker Hyundai has managed to battle rising cost inputs by increasing exports. Experts feel that auto makers prefer exporting cars from India due to the low cost of labour in the country. Toyota has followed a similar strategy and has banked upon the rising demand for Etios series across the globe.
