Toyota Kirloskar to launch two new models

Toyota Kirloskar Motor, which has invested about Rs 1,800 crore in India expects to launch two new models by 2010 so as to increase its market share to 10 per cent from 5 per cent.

Addressing a press conference on selling 1,000 Innova in Chennai, Atsushi Toyoshima, managing director, Toyota Kirloskar Motor, said, "A serious study has been undertaken by the company on the launch of the two new models". He declined to mention when the study will be completed.

"We have achieved 5 per cent of the automobile market in India in the last six years of having a manufacturing base in the country. Our objective is to grow our market share by 10 per cent in the next five years and to 15 per cent by 2015 or sooner," he added.

Toyoshima said that Innova has been able to garner customers from the passenger car segment as well as multi-purpose vehicle as it has emerged as a new category in the last six months. About 6,500 Toyota Innova's have been sold in South India from the time it was launched February 2005," he added.

The company's present capacity is 60,000 units per annum and we studying various options of increasing the capacity, he said.