Toyota Motors Corporation will launch its small car Etios by the year end or in January 2011 in India. “Etios will be launched by December or January in Indian market and after it meets its expected target of sale, it will be exported,” said TKM Managing Director Hiroshi Nakagawa.
He said the company is looking at sales volume of 70,000 units in the first year. However, he did not shed light on the car’s price. TMC with Kirloskar Group has a joint venture - Toyota Kirloskar Motor (TKM) in India.
TMC’s chief for India said they had focused on vehicles Innova, Corolla and Fortuner adding that such variants have limited consumer market. So we are moving to small car manufacturing segment, Nakagawa said. He said their presence in the Indian car market was three per cent adding they were marching step by step ahead. India is an expanding car market but to be honest it was a tough one as well, he said.
Nakagawa said the TKM was setting up a separate small car manufacturing plant in Bangalore, second in India. He said the present production strength of their Bangalore plant was 80,000 annually and the second plant will be in operation by mid-December.
Nakagawa said the second plant will roll out 70,000 units in a year, adding its strength will be enhanced to two lakh unit following consumers’ demand.