Toyota aims to treble car market share

Toyota Kirloskar Motor plans to treble its market share of the passenger car market from 5 to 15 per cent by selling six lakh cars by 2015.

"We are optimistic of the country's auto market and also optimistic about the future of Toyota. We will see a 2 million market by 2010 and a 4 million market by 2015," said Atsushi Toyoshima, managing director, Toyota.

He was talking to mediapersons after a function organised by Auto Component Manufacturers Associaton of India to felicitate Lucas-TVS on winning the 'Deming Prize 2004' in the city last evening.

Toyota sees its production increase from the present 50,000 units to two lakh by 2010 and six lakh units by 2015. Part of the plan to reach the six lakh mark might be to introduce a small car that will be volume driven.

"We want to introduce a small car but not have not decided on the time and the model. The segment has not reached saturation yet," added Toyoshima.

Though declining to comment on the model that they were planning on introducing, he said that it will have a high level of localisation and will be "affordable".

Toyota has notched up 10,000 bookings so far for its innovative international multipurpose vehicle (IMV) Innova in less than a month after its launch.