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Passenger vehicle sales in India touched a record high of 41.08 lakh units in 2023, growing by 8.3 per cent over the previous year driven by SUVs, which accounted for almost half of the total dispatches from manufacturers to dealers. The record sales have been achieved despite an increase in the average price of vehicles to Rs 11.5 lakh last year as compared to Rs 10.58 lakh in 2022. Market leader Maruti Suzuki, Hyundai Motor India, Tata Motors and Toyota Kirloskar Motor reported their best-ever annual sales in 2023.

Toyota Kirloskar Motor (TKM) anticipates sustaining its strong sales momentum in 2024, fueled by increasing demand from tier II and III markets. TKM is confident about closing the calendar year 2023 with its highest-ever sales numbers. The company aims to focus on enhancing customer experience and plans to generate enthusiasm around its sustainable offerings in the mass electrification space.

The company is set for a record year in terms of sales in 2023. It has already clocked a total of 2,10,479 units in the January-November period of 2023, beating the previous highest yearly sales of 1.72 lakh units in 2012.

The cumulative sales for the Calendar Year 2023 reached 2,10,497 units - a 40 per cent growth over 2022

Toyota Kirloskar Sales: While the company sold 16,924 units in the domestic market, 894 units of The Urban Cruiser Hyryder were exported, the company said.