Toyota Kirloskar Motors(TKM), a joint venture between Toyota Motor Corporation and Kirloskar Group, expects its sales in India to rise over 100 per cent next year, a top company official said in Kolkata on Friday.
“We are targeting a 103 per cent increase in our sales to more than 1,50,000 units in 2011, from close to 74,000 units that is expected this year. We are getting a good response for our sedan and with the hatchback model set to hit the markets, it will be a very important year for us,” said Koji Nagata, executive managing co-ordinator and director of TKM, at the Eastern India launch of Etios sedan. Toyota sold 54,000 cars in 2009, and aims to end this year with net sales of over 74,000 units.
The company has entered the mass-market segment of the Indian car market recently through the launch of Etios and its hatchback variant Liva, lined up for the launch in April next year.
Etios sedan, which is priced between Rs 4.96 lakh and Rs 6.86 lakh in Delhi(ex-showroom) and between Rs 5.03 lakh and Rs 6.94 lakh in Kolkata(ex-showroom), has already received about 13,000 orders.
TKM will start production of Etios in the third week of December from its second manufacturing facility at Bidadi in Bangalore.
“Initially, we will begin operations in one shift at Bidadi and will extend it to two later,” Nagata said. The firm has already invested Rs 3,200 crore for the second facility and the plant has production capacity of 70,000 units per annum.
“Our company owns only 3 per cent market share of the overall car market in India, while we own more than 50 per cent market share in the luxury sports utility vehicle(SUV) segment. With new models coming up, we expect our position will improve. Moreover, we are planning to stretch the number of dealers to 150 soon,” said Ramesh R K, general manager, marketing.
With the introduction of engines and transmissions in 2012, the company also plans to raise the localisation from 70 percent this year to 90 per cent by next year.
