Toyota India joint venture’s domestic sales declined 19 per cent annually to 10,603 cars in June from 13,088 units in the same month last year, the company said on Monday.
“Exports also declined 25 per cent annually to 762 units in June from 1,014 in the like month a year ago,” said the city-based Japanese subsidiary in a statement here.
Combining domestic and export sales, the overall sales declined 19 per cent annually to 11,365 cars in June from 14,102 units in the corresponding month a year ago.
“The Indian automobile industry has been witnessing a continuous decline in domestic sales owing to several factors, which have contributed to the weak consumer sentiment,” said Toyota Kirloskar Motor Deputy Managing Director N. Raja in the statement.
In the first six months of 2019, domestic sales declined 10 per cent to 68,652 cars from 75,992 units in the same period in 2018.
“Economic uncertainty, subdued or deficit monsoon, high interest cost, tight liquidity and apprehensions over BS VI introduction in a few months have fuelled the slowdown,” Raja said.
The company hopes the ensuing Union Budget would address the need for a positive growth in the economy for better sentiment in the auto industry.
“We look forward to measures to boost the manufacturing industry to improve customer demand,” added Raja.
The two-decades-old JV of Japan’s Toyota Motor Corporation and the Pune-based Kirloskar Brothers Ltd rolls out multi-utility vehicle Innova, SUV Fortuner, Corolla Altis, Toyota Yaris, Camry and four Etios variants at its manufacturing plant at Bidadi, near here, and imports the Prade, Prius hybrid and Land Cruiser as completely-built units.