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Toyota India has released an official statement, confirming its commitment towards the Indian market. The company has stated that going forward, the first step will be to ensure full capacity utilisation of its facilities across the country.
The company also stated that over the two decades of Toyota's existence in the Indian market, the brand has built a competitive local supplier ecosystem and highly capable human resources. Hence, Toyota's current focus will be on protecting the jobs they have created using all means necessary.
Toyota also stated that the auto industry has been requesting the Government of India for their support, to recover from the slowdown impacted by the COVID-19 pandemic. There is a request for a viable tax structure, essential to sustain the industry and employment.
The company also spoke about its recent partnership with Suzuki, which focuses on sharing technology and other practices, which are in line with the government's ‘Make-In-India' initiatives. While also building the competitiveness of both companies in India.
The Official Toyota India statement, read
"Toyota Kirloskar Motor would like to state that we continue to be committed to the Indian market and our operations in the country is an integral part of our global strategy. We need to protect the jobs we have created and we will do everything possible to achieve this.
Over our two decades of operations in India, we have worked tirelessly to build a strong competitive local supplier eco-system and develop strong capable human resources. Our first step is to ensure full capacity utilization of what we have created and this will take time."
It further stated, "In wake of the slowdown that has been exaggerated by the COVID-19 impact, the auto industry has been requesting the Government for support to sustain industry through a viable tax structure. We remain confident that the Government will do everything possible to support the industry and employment.
We recognize the strong proactive efforts being made by the Government to support various sectors of the economy and appreciate the fact that it is open to examining this issue despite the current challenging revenue situation."
Talking about the Toyota-Suzuki partnership, "Our recent partnership with Suzuki in India on sharing technology and best practices are also in support of the ‘Make in India' initiative and Indian Government's policy, and aim to enhance the competitiveness of both companies."
The company is currently working on introducing its Urban Cruiser SUV in the Indian market. This will be the second product to come out of the Toyota-Suzuki partnership, following the Toyota Glanza hatchback.
The Toyota Urban Cruiser is based on the Maruti Suzuki Vitara Brezza, although it will come with a number of differences. The new Toyota Urban Cruiser SUV has been confirmed to go on sale in India on the 23rd of September — here are the details.
Thoughts On The Toyota India Statement
The slowdown in the auto industry, further exaggerated by the COVID-19 pandemic during the earlier part of the year, gave a massive blow to the entire auto industry, with companies still recovering from their losses. With such a massive blow, it only makes sense to analyse and focus on what is important and change strategies which will help recover faster.