BUSINESS
Toyota Kirloskar Motor (TKM) today reported 75.57 per cent decline in total sales at 3,628 units in June.
Toyota Kirloskar Motor (TKM) today reported 75.57 per cent decline in total sales at 3,628 units in June.
The company had sold a total of 14,854 units in the same month last year, TKM said in a statement.
Domestic sales were down 85.38 per cent to 1,973 units as against 13,502 units in June last year, it added.
TKM exported 1,655 units of the Etios series in June 2017 as compared to 1,352 units in the same month last year, a growth of 22.41 per cent.
Commenting on the performance, TKM Director and Senior Vice-President - Sales & Marketing N Raja said: "The uncertainty surrounding the GST implementation with regard to the passenger vehicles has impacted the retails as the customers are postponing their plan of purchasing the vehicle post GST roll out."
In line with the company's 'customer first' philosophy, it has taken a conscious decision to lower the volumes of vehicles sold to dealers this month, he added.
"We believe that our dealers are our first customer who cater to the requirements of our end customers. This strategy has been undertaken to ensure that there is minimum burden on our dealer partners and they can focus on clearing the existing stocks at the dealerships," Raja said.
The initiative has been taken to lessen any impact of the differential tax post GST rollout, he added.
Commenting on the GST, Raja said: "We are optimistic that the GST implementation will be fruitful for the growth of the Indian auto industry."
With the change in prices, the company expects to see positive sentiments amongst the consumers in the month of July, he added.
The industry will break into double digit territory this year, Raja said.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
HURRY UP! Coldplay announces fourth show in Ahmedabad, tickets to go on sale from...
Chhath Puja turns scary! Venomous snake turns towards woman performing rituals, then…
Radhika Merchant changes name, shares thoughts on work and marriage
Renewable Energy: Power generation expert Shahroz Anjum leads way in solar optimisation
Meet man, Indian-origin VP, who uses vacations to determine if he's hired right people, he is...
Ricky Ponting hits back at Gautam Gambhir's 'minding own business' advice, says, 'He is…'
Decision between renting and owning: Krupa Goel's perspective on what's shaping choices today
SC pronounces verdict on 'bulldozer justice': 'Having a home is a longing that never fades...'
Archbishop of Canterbury resigns over Church of England sex abuse scandal
Why world's most valuable company Nvidia's CEO Jensen Huang doesn’t wear a watch, know here
Renowned Yoga guru Sharath Jois passes away at 53
Guru Nanak Jayanti 2024: Know date, time and significance of festival
DSP tracks down vegetable vendor after 14 years, reason will leave you surprised
Chennai Rain Alert: Heavy showers expected today, IMD issues warning to 11 districts
Ankur Warikoo shares details about his annual salary, reveals he earns Rs...
Donald Trump chooses Elon Musk to lead THIS new Department, it is...
Jharkhand Assembly Elections 2024 LIVE UPDATES: Voting for first phase begins
IND vs SA: Arshdeep Singh on verge of scripting history, need 8 wickets to achieve THIS massive feat
Bulldozer justice: SC to pronounce verdict today on pleas for guidelines on demolition of properties
IND vs SA, 3rd T20I: Predicted playing XIs, live streaming details, weather and pitch report
Russia plans to boost birth rate with 'Ministry of Sex', here's how
Jharkhand HC issues notice to MS Dhoni in business deal case, asks him to...
IND vs SA, 3rd T20I Dream11 prediction: Fantasy cricket tips for India vs South Africa match
Meet IAS officer, aka 'Collector Bro', who cracked UPSC exam in 2007, now suspended due to...
Here’s why Chunky Panday wouldn’t stay in Shah Rukh Khan’s house in London
Yash's Toxic in trouble? FIR filed against producers of KGF star's upcoming actioner for illegal...
Meet Dr Priti Challa, Kangana Ranaut film director Krish Jagarlamudi's second wife, she leads...
Yaariyan actor Himansh Kohli ties the knot with mystery girl in Delhi temple, first wedding pics out
‘Sometimes I wish I was more tough, more thick-skinned,’ says Aishwarya Rai in viral video
KL Rahul sweats hard in Perth nets ahead of BGT series, WATCH video here
Shahid Kapoor, wife Mira Kapoor rent out their Rs 580000000 luxury Mumbai apartment for Rs...
South Korean actor Song Jae-rim dies at 39 in Seoul apartment
Viral video: Thar SUV gets stuck on railway track after man tries to shoot reel, watch here
Elon Musk's new X post claims Putin must not be blamed for Russia-Ukraine war, instead names…
Fabulous Lives vs Bollywood Wives fame Shalini Passi reveals 'Mom used chilli powder in my...'
My experiences with dating apps
Zomato CEO Deepinder Goyal reveals how company got its name, says 'we wanted…'
Key Differences Between the Indian Stock Market and Global Indices
Stock prices vs company valuation: Is your stock worth it?
Navjot Singh Sidhu is back on Kapil Sharma's show after five years, but there's a twist
Mukesh Ambani set to invest Rs 65000 crore in THIS Indian state, it will be Reliance's biggest...
Mohammed Shami to return to competitive cricket; star pacer set to play for…
Makoons World School brings a new approach to K-12 education across India
Pakistan Cricket looking to take BIG step on Champions Trophy issue, planning to...
Did Isha Ambani lend Neetu Kapoor her Navratna necklace? Reddit users react