High Investment By Toyota For Production!

By By: Vicky.in

Published: Thursday, March 17, 2011, 15:18 [IST]

The Japanese car maker Tata Motors Corp is shelling out Rs300 crore for increasing the capacity in its Indian subsidiary. The targeted volume is 60000 units during the next year thereby the domestic volume will be enhanced to 2.1 lakh units. The move comes in the wake of fast growing demand for its vehicles in the domestic market. Toyota Kirloskar Motors" MD said there will be gradual increase in the growth to justify the capacity ramp. In this trait, the company will focus on its recent launch Etios sedan which will be relaunched as hatchback Etios Liva. The hike in the production will be on proportion to the increase in demand for the local market, he added. In a bid to focus on emerging markets in the Asia region, the apex company has chalked out plans.

The company targets to attain 50% share in the world market consisting Brazil, Russia, India and China along with other emerging markets. The MD further said the company is on one side happy with the long waiting for its Etios and other range of cars. The wait is even going beyond six months and is almost same in all cities and towns in India.

The wait is not reduced even after setting up fast deliveries to the maximum extent, he said. He said the gap between demand and supply will be narrowed down in another few months. Toyota received a sales rise of 31% during April-February period thereby accruing a market share of 3.5% in the 2.2 million potential Indian market. To cover the overseas markets Toyota is to export its Etios from India and there has been no reservation on particular market.

Article Published On: Thursday, March 17, 2011, 14:20 [IST]

Read more on: #tata motors #toyota #indian auto market

More from DriveSpark