Toyota expects no growth in sales this year

Toyota Kirloskar Motor (TKM), the Indian subsidiary of Japan's Toyota Motor Corp, today said that its sales will remain stagnant at 52,000 units during the calendar 2009 compared to 51,800 units sold in 2008.

"We do not expect any growth at least in the first half of 2009 due to economic slowdown and lack of demand for vehicles in the country. However, the situation is much better in February when compared to November and December sales for us in India," said Hiroshi Nakagawa, managing director, TKM.

He said Toyota expects some pick up in demand for their cars in the second half the current year and make good for the loss of sales in the first half of the year. The company expects to bring back customers to its outlets in the second half mainly driven by its upgraded versions of Innova and Corolla.

The company has witnessed encouraging response for the CNG version of its mulit purpose vehicle, Innova in the markets of NCR and aims to launch it in other cities like Mumbai, Ahmedabad, Hyderabad and Surat by mid March.

During the year 2008, Toyota sold 51,800 units in the country, of which Corolla accounted for 10,000 units and the rest came from Innova.