Toyota Kirloskar Motor expects sales to grow 8-9% next year

New Delhi: Toyota Kirloskar Motor (TKM) expects its sales to grow by 8-9 percent next year riding on its best sellers, Fortuner and Innova Crysta, along with a renewed focus on premium sedan Corolla.

The company, a joint venture between the Japanese auto major and the Kirloskar group, also plans to come up with a marketing plan to push sales of Camry Hybrid.

"We expect 2018 to have a single-digit growth, but on a higher side, anything around 8-9 percent. Our expectation is to grow at industry standards," TKM Director and Senior Vice- President (Sales and Marketing) N Raja told PTI.

The company should be growing by 5-6 percent this year by December, he added.

Elaborating on the strategy for the new year, Raja said the company's focus in 2018 is going to be on Innova Crysta and Fortuner.

"Sales of Fortuner have been very good, and it has expanded in volumes this year. We will continue the same," he said.

Besides, the company would like to put a lot of focus on Corolla as the segment is shrinking, he added.

Despite the C segment (Corolla) slowing, the company still holds a leadership position, according to the official.

On Camry Hybrid, Raja said sales of the model were hit after GST came into force early this year.

"After the prices of hybrids went up due to GST, the market immediately shrank. We were doing about 100 cars a month, which came down to 35 cars. Subsequent to that, the government relaxed the price on hybrids at the last stage, and we have seen some improved traction," he added.

On the company's strategy going forward, Raja said: "We have been working with our marketing team to increase the volumes of our hybrid. So, next year, we will try to come back on marketing efforts to increase hybrid volume to convince customers to go for hybrids."

He said further that the company is approaching the government and trying to explain that hybrids are part of electrified cars.

TKM has sold over 700 Camry hybrids so far this year compared to around 1,200 sold last year. The decline is due to price increase after GST implementation.