Toyota Kirloskar Motor has brought down the curtain on its popular models such as Etios series as well Corolla Altis models. Last month the company had witnessed the last batch of the Etios series as well as the Corolla Altis being manufactured at its plant in Bidadi, bringing an end to the iconic journeys both the models have enjoyed in India, said a press release here. This transition is part of Toyota’s global product strategy to continue to service the ever-evolving needs of the customer through enhanced technologies and product offerings. However, the company will continue to cater to all Etios series and Corolla Altis customers’ needs through Toyota service outlets across the country along with the promise of availability of Toyota genuine spare parts for the discontinued models, the press release added.
Having successfully liquidated all its BS-IV stocks even at the dealership level, TKM sold a total of 7,023 units of BS-VI vehicles to its dealers (wholesales) in March. To lessen the burden on its dealers, TKM withheld sales by 50% for March, just ahead of the 21-days national lockdown called by the Union government. The company also exported its last batch of 999 units of the Etios series last month, clocking a total of 8,022 units. Toyota Kirloskar had sold a total of 12,818 units in the domestic market in March 2019. The company had exported 844 units of Etios series in March 2019, clocking a total of 13,662 units in the same month last year.
Naveen Soni, senior vice-president (sales and service), Toyota Kirloskar Motor, said, “Even though the company has been long successful in liquidating all BS-IV stock and transitioning into a 100% BS-VI manufacturing facility, last month has been very challenging for us, both in terms of sales as well as production. With the spread of Covid-19 threat in various parts of the country followed by the 21 days national lockdown, the company’s priority was to ensure the safety and well-being of all its stakeholders and most importantly our dealers and their staff who are in the frontline. To bring this to immediate effect, our dealerships across the country were shut down beginning March 23rd along with a temporary halt of production at our plant in Bidadi.”
“We would like to reassure our dealer partners that they are the most important asset for us and we have been thinking about their sustainability. This pandemic has financially impacted all our dealerships across India. While the government has announced several relief measures, including moratoriums, we have also studied the fixed cost expenses of dealerships and have come up with a relief package called the Covid package to assist in maintaining liquidity to improve cash flow,” he added.
