Toyota sales surge 62% in 2003

Toyota Kirloskar Motor (TKM) yesterday said it has registered a year-on-year growth of 62 per cent in vehicle sales in 2003 at 40,500 units.

The company, which sold 25,050 units in 2002, exceeded its 2003 targets across categories, a senior company executive said.

In December alone, the company retailed 856 units of the Corolla, 3,589 units of the Qualis and 164 units of Camry to register 110 per cent higher growth than in December 2002, a statement from the company said.

During the year, the C-plus segment sedan Corolla, the global bestseller from Toyota stable which made its debut in India in February 2003, sold 8,020 units.

The luxury sedan Camry also broke the four-digit mark, selling 1,043 retail units. In addition, the company sold 31,444 units of the multi-purpose vehicle (MPV) Qualis between January and December 2003.

"We have exceeded our targets for all our products, and closed the year with an order booking of 43,000 units," said K K Swamy, deputy managing director, Toyota Kirloskar.

He said that the economic indicators such as high GDP, buoyant agriculture and consistent foreign exchange rate and lower interest rate would bring more customers into the market in 2004.

"We expect a growth of around 15-20 per cent in the passenger car market in 12 months," he said.