The strong performance was fueled by key models in the SUV and MPV segments, including the Innova Hycross, Urban Cruiser Hyryder, and Hilux. Toyota Kirloskar Motor (TKM) achieved record-breaking sales in 2024, marking a 40% increase compared to 2023. This success is attributed to strong performance in the SUV and MPV segments, strategic new launches, and an expanding network of dealerships and service centers. The company also emphasized its commitment to the "Make in India" initiative, highlighting its contribution to both domestic and export markets.
TKM reported sales of 326,329 units in 2024, up from 233,346 units in 2023. Domestic sales accounted for 300,159 units, while exports reached 26,232 units. The company’s December 2024 sales totaled 29,529 units, a 29% increase over December 2023 figures. Of the December sales, 24,887 units were sold domestically, and 4,642 units were exported.
What led to this growth?
The strong performance was fueled by key models in the SUV and MPV segments, including the Innova Hycross, Urban Cruiser Hyryder, and Hilux. The launch of the Urban Cruiser Taisor and the all-new Camry Hybrid also contributed to the company's growth. TKM further expanded its product offerings with new grades and limited editions for the Innova Hycross, Fortuner, Toyota Rumion, and Innova Crysta.
T CARE initiative
The "T CARE" initiative further enhanced the customer experience. This comprehensive program covers presales, aftersales, and repurchases, providing a unified and hassle-free experience for Toyota customers. These combined efforts contributed significantly to TKM’s overall growth in 2024.
TKM network expansion plans
TKM’s network expansion played a crucial role in reaching more customers. The company currently operates over 1,110 touchpoints across the country, ensuring accessibility and convenience. Innovative services such as the Toyota Used Car Outlets (TUCO), with locations in Bangalore, Delhi, and Guwahati, catered to the growing used car market.
“We are immensely proud to close 2024 with a record-breaking performance, achieving an impressive 40% year-on-year growth. The SUV and MPV segments being key contributors grew at 20% over the same period last year. We are also observing a growing shift of consumer preferences towards vehicles offering sustainability, value proposition of dependability quotient, enhanced safety and better resale value which is boosting our sales. This milestone reflects the trust and faith of our customers towards brand Toyota, the unwavering commitment of our dealer partners, and the relentless efforts of our team members,” said Sabari Manohar – Vice President, Sales-Service-Used Car Business, Toyota Kirloskar Motor.
TKM aims to continue its growth trajectory by focusing on innovation, expanding customer touchpoints, and offering more environmentally friendly vehicles. The company is confident in its ability to strengthen its market presence and contribute to the growth of India's automotive sector. TKM also reiterated its dedication to promoting sustainable mobility and contributing to the globalisation of India's automobile manufacturing industry.
