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No new Toyota cars in India for the next three years

Published: December 7, 2012 | 7:39 am
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Toyota Kirloskar Motors (TKM) has no plans of launching any new products in the country in the next three years and will instead focus on strengthening the Etios and Liva brands in the India.
No new Toyota cars in India for the next three years
No new Toyota cars in India for the next three years

Sandeep Singh, deputy managing director ( marketing), Toyota Kirloskar Motors, talking to media about it said, “We will not come up with new models for next three years. We will focus on strengthening Etios and Liva.” He further added, “The last year was good. We witnessed some slowdown only in the last four months and that is industry- specific. SUV models like Innova and Fortuner are doing well. In Liva and Etios the slowdown was confined to petrol variants. Diesel models are still doing well.”

TKM sales have dipped by 26 per cent in the just ended month of November, which may be accounted to its production plants being shut down in order to expand capacity. The company eyes to increase its annual production capacity from the present 2,10,000 units to 3,10,000 units by 2013. The sales of the Etios model declined to 4,231 units, compared to 8,271 units sold in November 2011. The soaring fuel prices and high interest rates were the basic reasons behind it. The sale of TKM’s utility vehicles, however, remained healthy, with a 9 per cent surge in the sales of Innova, which stood at 4,682 units. The Fortuner also performed very well with a sale figure of 1,025 units, up by 19 per cent compared to the sales figure in the same month last year.

Answering to a question about the compact SUV segment, Singh said, “There is potential for growth in the compact SUV segment. So, it will do well for some years. Our competitors are launching models and it will have some bearing initially. However, we are not entering this segment. Our customers are loyal customers and we are here not for short- term but the long- term.”

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