Toyota aiming at 10% market share in 6-7 years

Toyota is eyeing a 10% market share in India in the next six to seven years, up from 3% at present, a top company official said here today.

  
Speaking to reporters here, Hiroshi Nakagawa, managing director of Toyota Kirloskar Motor, said Toyota's mew compact car 'Etios' was a good quality product and would be affordably priced. 'With the introduction of this concept, we hope to attain a sizeable market share in India in the shortest possible time', he said.

  
During January-February this year, Toyota had sold 11,982 vehicles in India against 5736 last year, a 109% increase year to year, he said replying to a query.

  
The company had sold 55,497 units last year nationally and 5861 in Kerala, which was 11% of the total sales.

  
It aims to expand its sales and service network to about 150 dealers by this year end. It currently has six dealers in kerala and two more will be added by this year end.

    
Toyota is showcasing its array of vehicles at a two day exhibition here.

  
Innova, Corolla Altis and Fortuner are market leaders in their segments in Kerala, with a market share of 45%, 35% and 68% respectively.

  
After Chandigarh, Lucknow, Mumbai, Ahmedabad, Pune and Kochi, Toyota ‘Q’ World will travel to bangalore, Chennai, Hyderabad and Kolkata.The event will span a four month period.

  
TKM, a joint venture between Toyota Motor Corporation and Kirloskar Group, has invested nearly Rs1,500 crore at its plant at Bidadi, employing around 3000 people. The plant started production in December 1999 and has a capacity to produce 80,000 units annually.