Toyota Kirloskar Motor (TKM) is all set to launch this month its all-new new premium luxury car "Camry" in the country and it would be assembled at the company's Bangalore facility.
"We are going to launch Camry on the 24th of this month in New Delhi..", TKM Deputy Managing Director (Marketing) Sandeep Singh told reporters in Chennai.
Declining to give out details on the features of new Camry, he said the components of the car would be imported and assembled at Bangalore plant. "We have enough space there to produce the car," he said.
TKM, a joint venture between Japan's Toyota Motor Corp and the Kirloskar Group, had introduced Camry in India as a Completely Built Unit from Japan. Camry is one of the largest selling cars for Toyota globally.
The company currently offers its popular Multi-Utility Vehicle 'Innova', hatchback and sedan 'Etios Liva' and 'Etios', 'Corolla Altis' and Sports Utility Vehicle 'Fortuner'.
TKM has two manufacturing facilities in India with a total capacity of three lakh units. The first plant manufactures Innova and Fortuner and the second plant Etios, Etios Liva and Corolla Altis.
To a query on market remaining sluggish, Singh said Toyota did quite well in terms of sales. "We are doing quite well in terms of sales. We are targeting to sell 1,70,000 units this year, compared to 1,31,000 units (last year)..", he said.
TKM has reported a seven per cent increase in sales at 14,574 units during July 2012.It had sold 13,592 units in July last year.
On TKM's proposed engine plant in Bangalore, Singh said it would begin production this month.
The plant would cater to Toyota's hatchback Etios and Etios Liva, with a combined investment of Rs 500 crore.
In addition to engines, TKM is scheduled to start producing transmissions for "Etios" and Etios Liva in early 2013. Exports of the transmissions are also being planned, a company official said.
Singh was in Chennai to flag off their first ever "Etios Motor Racing" at the Irungattukottai race track in Chennai.