Toyota bets big on new small car in India

Thursday, 22 July 2010, 18:30 IST   |    1 Comments
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Bangalore: Betting big on its yet-to-be launched compact car Etios,the world's largest carmaker Toyota on Wednesday said it expects more than half of its overall sales in India during the next year to come from the new model. The company, which is present in India through a joint venture with the Kirloskar Group - Toyota Kirloskar Motor - will be launching the car by December this year. "Next year, the total sales of the company will be 1,50,000 units, out of which we expect the Etios to be around 67,000 units," Toyota Kirloskar Motor (TKM) Deputy Managing Director (Marketing) Sandeep Singh said. In the first year, the company is expected to produce 70,000 units of Etios. TKM, which today launched the diesel version of its premium sedan Corolla Altis at Rs 10.95 lakh-Rs 13.75 lakh (ex-showroom Delhi), said it expects to sell a total of 15,000 units from the entire Corolla Altis range in 2011. The sedan is also available in petrol and CNG options. Asked if the Etios will also have a diesel engine, he said: "It will be launched with the petrol engine only, but we are conducting a market study on the diesel option and we are seriously considering that option as well." In the past, when the company decided to invest on the new plant for production of Etios, TKM had maintained that it would try to bring down the investment by adopting various cost efficient measures. The plant will start production by this year with an initial capacity of 70,000 units annually. On the possibility of launching a car smaller than the Etios, Singh said: "We have no plans for a smaller car than the Etios."
Source: PTI