The Japanese car manufacturer Toyota Motor Corp. declares that the new compact car planned for the Indian car market in 2010 will roll out from the company’s own independent production unit. It won’t make its debut to India from the stable of Daihatsu Motor Co, a company where Toyota holds 51% of the stake.
Hiroshi Nakagawa, Managing Director of Toyota Kirloskar Motors (TKM), stated, “This small car is very much Toyota’s”. Earlier there were rumours that the new compact car will roll out on Indian roads in association with Daihatsu but Hiroshi denies the reports.
He also added that the project for the proposed new car is already on track and the company desires to produce 100,000 cars in the first phase of production. Further to that the numbers will definitely be increased infact to double.
TKM has also made a heavy investment of Rs 1,400 crore to establish its second production unit at Bidai. Toyota also plans to take the Indian made car across the boundaries. It eyes Brazil as one of the most emerging markets and will definitely roll out its compact car there.
As Toyota moves further in its establishments and car portfolio, meanwhile it also plans to expand and strengthen its presence in the Indian car market.