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<ul><li>Toyota <keyword id="13898160" type="DOMAIN" weightage="100" keywordseo="kirloskar" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="kirloskar" meta.entityname="Kirloskar Electric Company Ltd." meta.entityid="12195" meta.seoname="kirloskar-electric-company-ltd">Kirloskar</keyword> Motor on Monday said its wholesales declined by 6 per cent to 14,162 units in April</li><li>The company said it undertook a week-long maintenance shutdown from April 24-28, 2023 for the upkeep of machinery and equipment to sustain operational efficiencies, <keyword id="15322163" type="TOPIC" weightage="60" keywordseo="Productivity" source="TOPIC" sourcekeytype="insurance,investopedia" meta.keywordsubtype="null" meta.seopath="p/productivity" meta.entityname="Productivity" meta.hostid="153" meta.entityid="productivity">productivity</keyword> and safety.</li></ul>Toyota Kirloskar Motor on Monday said its wholesales declined by 6 per cent to 14,162 units in April, owing to a week-long maintenance shutdown during the month. The company had dispatched 15,086 units in the domestic market in April 2022. The automaker also exported 1,348 units of the Urban Cruiser Hyryder in April. The company said it undertook a week-long maintenance shutdown from April 24-28, 2023 for the upkeep of machinery and equipment to sustain operational efficiencies, productivity and safety. "The company is continuing to witness high <keyword id="15308237" type="TOPIC" weightage="60" keywordseo="Demand" source="TOPIC" sourcekeytype="economy,investopedia" meta.keywordsubtype="null" meta.msid="92562122" meta.seopath="d/demand" meta.entityname="Demand" meta.hostid="153" meta.entityid="demand">demand</keyword> as well as good enquiries, and needless to say we are extremely thrilled to see the market responding very positively," Toyota Kirloskar Motor Vice President, Sales and Strategic Marketing <keyword id="13873597" type="DOMAIN" weightage="20" keywordseo="atul" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="atul" meta.entityname="Atul Ltd." meta.entityid="14027" meta.seoname="atul-ltd">Atul</keyword> Sood said in a statement. The Hilux, Innova Hycross and the new Innova Crysta continue their phenomenal run, as strong demand continues, he added. "Our SUV segment share also continues to be buoyant owing to the success of the Urban Cruiser Hyryder along with segment leadership of the Fortuner and the Legender, which are consistently leading with over 82 per cent <keyword id="15309136" type="TOPIC" weightage="60" keywordseo="Market-Share" source="TOPIC" sourcekeytype="marketing,investopedia" meta.keywordsubtype="null" meta.seopath="m/market-share" meta.entityname="Market Share" meta.hostid="153" meta.entityid="market-share">market share</keyword> in Q1 of CY 2023," Sood stated. The Vellfire and the Camry Hybrid are also steadily contributing to the company's sales, he added. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/bill-gatess-optimistic-view-on-ai-chatbots-in-education/articleshow/99809787.cms">Bill Gates says AI Chatbots will transform education by making tutoring affordable and accessible</a> <a href="https://www.businessinsider.in/tech/news/smarter-than-a-smartphone-a-new-wearable-challenges-the-traditional-device/articleshow/99812363.cms">Smarter than a smartphone? A new wearable challenges the ‘traditional’ device</a>

Toyota Kirloskar sales dip 6% in April to 14,162 units

Shareholders of <keyword id="149362" type="General" weightage="100" keywordseo="kirloskar" source="Orion">Kirloskar</keyword> Brothers Ltd have rejected a resolution for forensic audit of the affairs of the company by an external agency, according to a regulatory filing on Monday. On December 8, an extraordinary general meeting of the company's shareholders was convened following requisition by Kirloskar Industries Ltd (KIL) along with <keyword id="281440" type="General" weightage="50" keywordseo="atul-kirloskar" source="Orion">Atul Kirloskar</keyword> and <keyword id="659367" type="General" weightage="50" keywordseo="rahul-kirloskar" source="Orion">Rahul Kirloskar</keyword>, who together hold 24.92 per cent in Kirloskar Brothers Ltd (KBL), amid the simmering feud between Kirloskar siblings. The ordinary resolution was rejected with 63.99 per cent of votes against it while 36.01 per cent were in favour, the filing said. The resolution had called for the appointment of an independent forensic auditor for conducting a forensic audit to investigate and verify the expenses incurred by KBL on legal, professional consultancy charges over the past six years and the affairs of the company. It had also sought investigation to verify all records, books of accounts, minutes books, and other documents of the company besides examining the conduct of the board of directors, including independent directors. KBL board had advised its shareholders to reject the resolution saying "the requisitionists are not justified in questioning the independence of the Independent Directors or the decisions of the board" to initiate legal proceedings to protect the interest of the company. The Kirloskar siblings, with KBL Chairman and Managing Director <keyword id="292658" type="General" weightage="50" keywordseo="sanjay-kirloskar" source="Orion">Sanjay Kirloskar</keyword> on one side and Atul and Rahul on the other, have been in a feud since 2016 over the deed of family settlement for the assets of the more than 130-year-old Kirloskar group. Rahul Kirloskar is the executive chairman of Kirloskar Pneumatic Co Ltd and Atul Kirloskar is the executive chairman of Kirloskar Oil Engines Ltd. In October, Kirloskar Industries Ltd (KIL) along with Atul and Rahul Kirloskar, had sought convening of an extraordinary general meeting of shareholders of KBL seeking a forensic audit of the affairs of the latter by an external agency. They had demanded that being a listed entity KBL should justify the rationale and basis on which it has been spending huge amounts aggregating to approximately Rs 274 crore towards payment of professional illegal expenses and consultancy charges ever since their dispute arose since on or about 2016. After being cleared of insider trading charges labelled against them by the Securities Appellate Tribunal (SAT), Rahul and Atul had raised questions over corporate governance of KBL. They were accused of insider trading when they sold shares of KBL to KIL back in 2010. They had accused KBL of "mis-utilising shareholder resources of a publicly listed company and misusing regulatory machinery" in the personal dispute of its Chairman &amp; Managing Director Sanjay Kirloskar. KIL had demanded that the audit must look into the conduct of the KBL board, especially the independent directors, on whether it has "verified the claims made by Sanjay Kirloskar in relation to the Deed of Family Settlement (DFS), in order to ensure that they have not been misled by the claims made" by the latter. In its rebuttal, KBL had said the legal fees over the last seven years were approximately Rs 70 crore, while a "major portion of the said Rs 274 crore is professional fees paid to various Indian and overseas reputed consultants to improve the company's business". SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/dalmia-bharat-to-acquire-cement-power-plants-of-jaiprakash-associates-for-5666-crore-enterprise-value/articleshow/96175228.cms">Dalmia Bharat to acquire cement, power plants of Jaiprakash Associates for ₹5,666 crore enterprise value</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/415-mn-indians-lifted-out-of-poverty-in-india-in-15-years-govt-says-quoting-undp/articleshow/96174443.cms">415 mn Indians lifted out of poverty in India in 15 years: Govt says quoting UNDP</a>

Kirloskar Brothers shareholders reject resolution for forensic audit

<keyword id="118748" type="General" weightage="20" keywordseo="toyota-kirloskar-motor" source="Orion">Toyota Kirloskar Motor</keyword> on Friday reported 51 per cent growth in <keyword id="6357824" type="General" weightage="20" keywordseo="sales" source="Orion">sales</keyword> at 17,818 <keyword id="54698" type="General" weightage="20" keywordseo="units" source="Orion">units</keyword> in November 2023 as compared to the year-ago month. The company had sold 11,765 units in November 2022, Toyota Kirloskar Motor (TKM) said in a statement. Domestic sales last month were at 16,924 units in the domestic market, while exports stood at 894 units, it added. The company had undertaken a week-long maintenance shutdown from November 11-19, 2023 for upkeep of machinery and equipment to sustain operational efficiencies, maintain quality and safety, the statement said. "We recorded a strong <keyword id="36208" type="General" weightage="20" keywordseo="festive-season" source="Orion">festive season</keyword> with healthy <keyword id="81925" type="General" weightage="20" keywordseo="bookings" source="Orion">bookings</keyword>, and we are extremely thrilled to see the market responding very positively to our entire product range," TKM Vice President of Sales and Strategic Marketing Atul Sood said. TKM said its cumulative sales for calendar year 2023 (January-November) stood at 2,10,497 units, up 40 per cent over the same period in 2022, when the sales were 1,49,995 units.

Toyota Kirloskar Motor sales up 51% at 17,818 units in November

<keyword id="6374528" type="General" weightage="100" keywordseo="toyota" source="Orion">Toyota</keyword> <keyword id="146495" type="General" weightage="80" keywordseo="kirloskar-motor" source="Orion">Kirloskar Motor</keyword> on Thursday said its total sales surged two-fold to 20,410 units in May, its highest-ever in a month. The automaker had dispatched 10,216 units in the same month last year. The company said its domestic wholesales last month stood at 19,379 units. It also exported 1,031 units of the <keyword id="14288519" type="General" weightage="80" keywordseo="urban-cruiser-hyryder" source="Orion">Urban Cruiser Hyryder</keyword> in May. Toyota Kirloskar Motor (TKM) Vice President of Sales and Strategic Marketing Atul <keyword id="39572" type="General" weightage="80" keywordseo="sood" source="Orion">Sood</keyword> said the automaker has scaled a new high in May by reporting the highest monthly sales performance of 20,410 units. "As we look forward, given the sustained momentum, we continue to be optimistic for the rest of the year by prioritising the customers' needs," he added. The company believes that the strong upward trajectory, highlights the company's customer alignment and ever-growing product popularity with the latest launches like Urban Cruiser Hyryder, <keyword id="14035031" type="General" weightage="80" keywordseo="innova-hycross" source="Orion">Innova Hycross</keyword> and the Hilux that continue to support the strong sales momentum in their respective segments, Sood said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/dgca-issues-guidelines-on-rapid-disembarkation-deplaning-check-details/articleshow/100671729.cms">Indian aviation regulator asks airlines to frame deplaning guidelines in case of emergency</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/zendesk-lays-off-320-employees-8-of-workforce/articleshow/100671585.cms">Zendesk lays off 320 employees; 8% of workforce</a>

Toyota reports highest-ever monthly sales in May at 20,410 units

New Delhi, Jan 2 () Toyota Kirloskar Motor on Thursday announced realignment of its regional offices into three new strategic business units (SBUs) with an eye on strengthening agility of regional management team.
 Under the new structure, Atul Sood will become associate vice-president (north &amp; east SBU); R Venkatakrishnan, vice-president (south SBU and institutional sales); and B Padmanabha, vice-president (west SBU), the company said in a statement.
 The three zonal SBUs will be further supported by group SBUs and state SBUs. With this, the company aims to further strengthen the objectivity and agility of the regional management team, it added.
 Commenting on the new regional structure, Toyota Kirloskar Motor Senior Vice-President (Sales &amp; Customer Service) Naveen Soni said three new SBUs will not only focus on the company's return on investment and key performance indicator-based competitiveness, but also focus on sustainable growth of the company.
 "Moreover, these SBUs will ensure that our regional teams headed by the three vice-presidents help us come closer to the markets and our customers and partners alike," he added.
 This structure will not only enrich and empower sales team but will also provide the company with the resources to execute its goals, Soni said.
 The reorganisation of regional team follows TKM's senior leadership organisational changes for 2020, which was announced December 10. RKL HRS

Toyota Kirloskar rejigs regional team into 3 strategic business units

<ul><li>Overall passenger vehicle segment crossed the 20 lakh units sales mark for the first time-ever in the first half this year.</li><li>Toyota Kirloskar Motor reported a double-digit growth in dispatches to dealers, while Kia saw a dip in wholesales last month.</li><li>MG Motor India also reported a double-digit increase in retail sales in June 2023 compared to the same month last year.</li></ul>New Delhi, Maruti Suzuki India (MSI) and Hyundai posted single-digit growth in domestic sales in June, even as the overall passenger vehicle segment crossed the 20 lakh units sales mark for the first time-ever in the first half this year. Toyota Kirloskar Motor reported a double-digit growth in dispatches to dealers, while Kia saw a dip in wholesales last month. MG Motor India also reported a double-digit increase in retail sales in June 2023 compared to the same month last year. Maruti Suzuki India, the country's largest carmaker, said its domestic passenger vehicle sales rose 8 per cent to 1,33,027 units in June against 1,22,685 units in the year-ago period. Sales of mini cars, comprising Alto and S-Presso, fell marginally to 14,054 units compared to 14,442 units a year ago. Similarly, sales in the compact segment, models such as Swift, Celerio, Ignis, Baleno and Dzire, slumped 17 per cent to 64,471 units from 77,746 cars in June 2022. Utility vehicle sales, including Brezza, Grand Vitara and Ertiga, however, surged over two-fold to 43,404 units compared to 18,860 vehicles in the year-ago month, MSI said. MSI Senior Executive Officer (Marketing and Sales) Shashank Srivastava said the automaker grew faster than the industry in June, enabling it to scale up its overall market share by 2.4 per cent to 41 per cent. The overall passenger vehicle industry dispatches grew by 1.9 per cent to 3,27,700 lakh units from 3,21,600 lakh units in the year-ago period, he said. MSI, on the other hand, dispatched 1,33,027 lakh passenger vehicles last month, up 8 per cent from 1,22,685 lakh units in June 2022. Srivastava noted that the domestic passenger vehicle segment has crossed 20 lakh sales-mark in the first half of the year, a 10 per cent growth over 18.31 lakh units dispatched in the January-June period of 2022. MSI dispatches to dealers during the period stood at 8,61,000 units over 7,87,000 units in the corresponding period a year ago, he added. He noted that the company's SUV market share rose to 21 per cent in the April-June quarter this fiscal, compared to an 8.5 per cent market share in the same period of the preceding fiscal. Srivastava noted that with the addition of new models like Jimny and Fronx, the company remained hopeful of attaining around 25 per cent market share in the segment to take the top slot in the segment by the end of the current financial year. On supply chain shortages, he said the situation is expected to get better in the current quarter. MSI currently has a pending order backlog of 3.55 lakh units, he stated. When asked about challenges, Srivastava said that high-interest rates and chances of an erratic monsoon were some of the factors, which the company was closely monitoring. Rival Hyundai Motor India reported a 2 per cent rise in its domestic sales at 50,001 units last month from 49,001 units in June 2022. "There is a positive customer traction for all our products and Verna, Creta and Tucson have attained leadership positions in their respective segments in the first half of CY23," HMIL COO Tarun Garg said. Toyota Kirloskar Motor also said its total wholesales increased 19 per cent to 19,608 units in June compared to 16,512 units in the year-ago period. Its domestic dispatches stood at 18,237 units while overseas shipments were at 1,371 units. "Ever since the launch of Urban Cruiser Hyryder and Innova Hycross, we are witnessing continued high acceptance by our customers," TKM Vice President (Sales and Strategic Marketing) Atul Sood said. On the other hand, Kia India said its domestic wholesales declined 19 per cent to 19,391 units in June. The company dispatched 24,024 units to dealers in June 2022. "We have kept our performance steady with healthy growth, despite the realignment of our manufacturing process to accommodate the development of the new Seltos this month," Kia India National Head (Sales &amp; Marketing) Hardeep Singh Brar said. With the launch of new Seltos, the automaker aims to be one of the top mid-SUV segment leaders again and hopes for a strong sales surge, he added. Another automaker, MG Motor India reported a 14 per cent increase in retail sales at 5,125 units in June 2023 against 4,504 units in the same month last year. "Supplies were disrupted in the wake of cyclone Biparjoy though customer demand should now gain momentum following the monsoon as India gears up for a long festive season," the company said.

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Toyota Kirloskar sales dip 6% in April to 14,162 units

PTI

Kirloskar Brothers shareholders reject resolution for forensic audit

PTI

Toyota Kirloskar Motor sales up 51% at 17,818 units in November

PTI

Toyota reports highest-ever monthly sales in May at 20,410 units

PTI

Toyota Kirloskar rejigs regional team into 3 strategic business units

PTI

Maruti, Hyundai post single-digit rise in June PV sales; industry crosses record 20 lakh units in H1 2023

PTI

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