Toyota has moved up the ladder from 6th position to 4th position in the sales charts.
Toyota has brazed past Tata and Honda to become the 4th-largest car manufacturer in India in terms of market share. The company also makes premium utility vehicles like Innova and Fortuner and recorded a market share of 4.86% in the first half of the fiscal year 2019. In a time when rivals like Honda and Tata witnessed a decline of 0.9% and 1.9% in market share respectively, Toyota saw an increase of 23 basis points when compared to 4.63% market share in the same period last fiscal year.
Boosting Toyota’s market share is the brand’s newest offering, the Glanza. The re-badged version of Maruti Baleno is banking close to 2000 units in sales every month. It is believed that the Glanza has been able to achieve what the Liva fell short of in the compact hatchback market. Simultaneously, offering the Liva to fleet operators and Glanza to personal buyers has worked well for the company.
The Glanza is also the first model to see the light of production from the Totoya-Suzuki agreement. It gets BS6-compliant petrol engines with a 5-speed manual and a CVT transmission as well. Taking a step further on, Toyota will also procure the Vitara Brezza, Ciaz and Ertiga from Maruti Suzuki to sell in India.
Toyota Overtakes Honda
– The Toyota Glanza is selling approximately 2000 units every month
– Became the 4th-largest car manufacturer in India in terms of market share
– Honda and Tata saw a decline of 0.9% and 1.9% in market share respectively
Source – ETAuto.com