Vehicle manufacturer Toyota Kirloskar Motors (TKM) plans to sell 70,000 of its new compact car Etios in India every year.
Vehicle manufacturer Toyota Kirloskar Motors (TKM) plans to sell 70,000 of its new compact car Etios in India every year.
The new car is expected to be rolled out by this year-end, a senior company official said on Tuesday.
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"We hope to attain a sizeable market share in India. We will expand our sales in India through our network of 150 dealers by the end of this year," TKM Deputy Managing Director (Marketing) Sandeep Singh said after unveiling the concept model of Etios at the 10th Auto Expo here.
He said the car will first be introduced in India and then elsewhere.
The Etios, a family car, comes in both notchback and hatchback models. Toyota's new Indian plant will be the first to begin the production of Etios.
The officials, however, refused to disclose the price of the car.
According to Kazuo Okamoto, vice-chairman of Toyota Motor Corporation, over 2,000 engineers in India and Japan worked for at least four years to develop Etios.
The company is very hopeful about its positioning in the Indian market. "India will play a major role in our global expansion plans. The time has come to strategically build up our growth plan," he told reporters.
Toyota began producing cars in India in 1999. It currently has about 400,000 customers in the country. It went into an alliance with Kirloskar to market its cars in India.
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