Indian subsidiary of the largest car maker Toyota, Toyota Kirloskar Motor yesterday announced the company's plan to introduce six new small cars in India in the next four years.
With the new launches planed, Toyota Motors plan to rival the fellow Japanese competitor Suzuki, which is currently the leader in the Indian compact car market.
With developed markets continuing on a slowdown path and Indian market becoming very cautious on the fuel price hike, missing to cater the compact car market in India would be a serious drawback from any auto maker. Toyota's current two models in this segment, the Etios and the Liva have proved reasonably successful.
"We will launch more small cars, we have to study which of these vehicles is suitable for India", said Hiroshi Nakagawa, Managing Director, Toyota Kirloskar Motor.
"Going forward our focus is very much in the emerging countries and India is a very important market", he added.
Maruti Suzuki being the segment leader currently accounts to 46% of the small car market in India. Toyota's closest contender with Maruti's six small car models is the Liva, with a market share of 2% in the premium hatchback category.
Toyota plans to capture this market and rival Maruti by selling 180,000 vehicles this year as compared to 130,000 units sold in 2011.
Toyota had a sales fall of 7 per cent in America and 23 per cent in Japan in 2011, partly accountable by the hit taken from the tsunami earthquake disaster in Japan in May last year.
"In the saturated markets of the United States, Europe and Japan, we have less room to grow. We are therefore focusing on countries like Brazil, Russia, India and China and countries in the ASEAN region to gain volumes", said Mr. Nakagawa.
Toyota which is expanding its plant capacity by 1 lakh units is also working on getting its new Petrol engine plant on stream by September this year.
Toyota is expanding capacity at its two plants near Bangalore by one lakh units from the current 2.1 lakh units a year. The fresh capacity would come in by the first quarter of 2013.
A new petrol engine plant is also expected to come on-stream by September, though diesel engines which account for 75 per cent of Etios sales and nearly all the Toyota Innova demand will still be imported.
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With the new launches planed, Toyota Motors plan to rival the fellow Japanese competitor Suzuki, which is currently the leader in the Indian compact car market.
With developed markets continuing on a slowdown path and Indian market becoming very cautious on the fuel price hike, missing to cater the compact car market in India would be a serious drawback from any auto maker. Toyota's current two models in this segment, the Etios and the Liva have proved reasonably successful.
"We will launch more small cars, we have to study which of these vehicles is suitable for India", said Hiroshi Nakagawa, Managing Director, Toyota Kirloskar Motor.
"Going forward our focus is very much in the emerging countries and India is a very important market", he added.
Maruti Suzuki being the segment leader currently accounts to 46% of the small car market in India. Toyota's closest contender with Maruti's six small car models is the Liva, with a market share of 2% in the premium hatchback category.
Toyota plans to capture this market and rival Maruti by selling 180,000 vehicles this year as compared to 130,000 units sold in 2011.
Toyota had a sales fall of 7 per cent in America and 23 per cent in Japan in 2011, partly accountable by the hit taken from the tsunami earthquake disaster in Japan in May last year.
"In the saturated markets of the United States, Europe and Japan, we have less room to grow. We are therefore focusing on countries like Brazil, Russia, India and China and countries in the ASEAN region to gain volumes", said Mr. Nakagawa.
Toyota which is expanding its plant capacity by 1 lakh units is also working on getting its new Petrol engine plant on stream by September this year.
Toyota is expanding capacity at its two plants near Bangalore by one lakh units from the current 2.1 lakh units a year. The fresh capacity would come in by the first quarter of 2013.
A new petrol engine plant is also expected to come on-stream by September, though diesel engines which account for 75 per cent of Etios sales and nearly all the Toyota Innova demand will still be imported.
Kurian Akkara
Source: Domain-B.com
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1 comments:
your detail about the Small cars of India is very nice and these cars are having attractive features and functions..
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