Betting big on its yet to be launched Etios compact, Toyota has said that it expects more than half of its overall sales in India during the next year to come from the new model.
The company is present in India through a JV with the Kirloskar Group, Toyota Kirloskar Motor (TKM). “Next year, the total sales of the company will be 1,50,000 units, out of which we expect the Etios to be around 67,000 units,” said TKM Deputy Managing Director (Marketing) Sandeep Singh.
In the first year, 70,000 units of Etios are expected to be produced. TKM launched the diesel version of the Corolla Altis at Rs 10.95 Lakh-Rs 13.75 Lakh (ex-showroom Delhi) and expects to sell a total of 15,000 units from the entire Corolla Altis range in 2011.
The sedan is also available in petrol and CNG options. TKM expects to sell a total of 70,000 units this year, as against 55,497 units last year. Asked if the Etios will have a diesel engine, he said: “It will be launched with the petrol engine only, but we are conducting a market study on the diesel option and we are seriously considering that option as well.”
On the cost cutting plans that the firm undertook to bring down the investment from the announced Rs 3,200 Crore to set up the second plant in Bangalore, TKM Managing Director Hiroshi Nakagawa said the figure remains unchanged. “Our budget of Rs 3,200 crore has not changed. There are many fluctuating aspects. Material prices have gone up, prices of petrol and diesel have increased,” he said.
The plant will start production by this year with an initial capacity of 70,000 units annually. Singh also made it clear that TKM has no plans for a smaller car than the Etios. On the SUV Fortuner, he said the company has got 2,500 more orders since booking was re-opened from this month.
“The total delivery pending is 6,500 units. Once it reaches 7,000 units, we will stop taking orders again,” Singh said. Since its launch, over 8,500 units of the Fortuner have been sold.