Toyota Kirloskar Motor (TKM) on Saturday reported a 41 per cent decline in total vehicle sales at 7,122 units in January as against 12,067 units in the same month last year.
In the domestic market, the company reported sales of 5,804 units last month, down 48 per cent from 11,221 units in January 2019, TKM said in a statement.
"We are happy that our BS-IV stock correction measures helped us efficiently liquidate the BS-IV inventory from our plants by January 2020," TKM Senior Vice President, Sales and Service Naveen Soni said in the statement.
The company has consciously cut down BS-IV production this month to start delivering BS-VI vehicles in a phase wise manner depending on BS-VI fuel availability across the country, he added.
The company is cautious on how customers respond to the increased pricing of BS-VI vehicles, especially in the diesel car market, as this will play a key role in the growth trajectory of the industry, Soni said.
"The next few months may turn out to be highly volatile and challenging for the auto industry. TKM is making plans and continuously adjusting to match the changing market conditions," he added.
