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

McLaren has already shown some interest in electrifying their models. And initially, we thought that they will just use hybrid systems to use across their current lineup. Nevertheless, we have...
by - August 19, 2017
Fifty years after its glorious victory at the 24 Hours of Le Mans, Ford launches the 2018 Ford GT ’67 Heritage Edition at the 2017 Monterey Car Week. The red...
by - August 18, 2017
Hyundai has recently unveiled an unnamed pre-production model of its new fuel cell SUV. We don’t know what to call this model just yet, but sources say that this model...
by - August 18, 2017
This weekend at the 2017 Pebble Beach Concours d’Elegance, the BMW Z4 Concept will make its first public appearance. The good news is that we will finally have a real...
by - August 18, 2017
While Honda’s new 2018 HR-V will be rolling out at the dealerships with just a few updates, the company is certainly not giving up its spot as the best-selling vehicle...
by - August 18, 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