Toyota Kirloskar Motor (TKM) has reported a 15.8 percent decline in domestic sales to 10,721 units in November. The company had sold 12,734 units in the same month last year in the domestic market, TKM said in a statement. It exported 669 units of the Etios series last month, compared to 686 units in the same period a year ago.
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"Fluctuating exchange rates, rising fuel costs and high interest rates have impacted the consumer sentiment in auto industry," TKM Deputy Managing Director N Raja said.
Consumer demand has witnessed a downward trend over the festive period as compared to same period last year, he added.
"We are trying to maintain lean inventory at dealership to avoid stock pileup. Festive season has not been able to usual spur in customer demand," Raja said.
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