Toyota India unit aims to double its sales in 5 to 7 years

Article by Christian A., on August 25, 2010

In the next five to seven years, Toyota Kirloskar Motors, the Indian unit of Toyota Motor Corp., expects to double its sales. This target will be propelled by the Etios cars that will be launched at the end of the year, a top company official told Reuters last Saturday. Toyota developed the subcompact Etios specifically for the Indian market.

The car was showcased at the Delhi auto show last month. Toyota expects that in 2010, its sales will grow more than 15% from 2009, when it had sold 55,497 cars.

Managing Director Hiroshi Nakagawa said in an interview that for Toyota to become a significant player in the volume market segment, it has to get at least 10% market share, which it expects to attain within the next 5 to 7 years.

Toyota currently has a 3% share of the local automobile market. The compact car segment in India accounts for about three-fourth of the total cars sold in the country.

The market is dominated by Maruti Suzuki. The Etios will rival Maruti's Swift hatchback, Hyundai's i20 and Tata Motor's Manza. Nakagawa said that the company is challenging Maruti Suzuki, saying that there are plans to strengthen the product lineup.

Toyota Kirloskar, in which Toyota has a 89% equity stake, is growing its dealership network to about 150 dealers by the end of this year.

Topics: toyota, india, sales

If you liked the article, share on:

Comments

Recommended

One of the executives at Volkswagen tagged in the so-called Dieselgate scandal has pleaded not guilty to a list of allegations surrounding the carmaker’s actions to cheat emissions regulations in...
by - February 27, 2017
When the Crown De Luxe saloon was first released in 1972, it was at that time the most lavish Toyota model available to British customers. Both unusual and exclusive, one...
by - February 27, 2017
The ride-sharing fleet of sharing Lyft Inc. will soon include thousands of specially fitted self-driving Chevrolet Bolt electric vehicles, courtesy of General Motors. If plans push through, Lyft’s clients would...
by - February 27, 2017
J.D. Power has officially released the 2017 Vehicle Dependability Study, an annual list of the most dependable brands in the auto industry. Once again coming on top is Lexus, the...
by - February 26, 2017
Citroen revealed that its entry to the Chinese market is moving forward with the planned release of the new generation C5. While still on sale on this part of the...
by - February 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries