Toyota Camry to start manufacturing locally, official launch on August 24, 2012
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The Joint Venture (JV) between Toyota Motor Corporation and the Kirloskar Group, Toyota Kirloskar Motor (TKM) is gearing up to break the covers of its all-new premium luxury car, Camry in India. The new model would be assembled at the Bangalore plant of the car maker. Deputy Managing Director, Marketing, TKM, Sandeep Singh, commented “We are going to launch Camry on the 24th of this month in New Delhi.”
However, he refused to divulge any further information regarding the specifications of the new car and stated that the all-new Camry will be brought in the country through Completely Knocked Down (CKD) kits. The car happens to be the best selling model for the company across the globe. At present, the company’s line-up in the country comprises of Innova Multi Utility Vehicle (MUV), Etios Liva hatchback, Etios Sedan, Corolla Altis and Fortuner Sports Utility Vehicle (SUV).
With a total production capacity of three lac units annually, the JV maintains two manufacturing plants in India as of now. The Innova and Fortuner are produced at the auto maker’s first plant and the rest of its line-up is manufactured at the second plant.
Commenting on the slow market growth in Indian automotive industry, Singh stated that the company managed to hold its ground in terms of sales. He said, “We are doing quite well in terms of sales. We are targeting to sell 1,70,000 units this year, compared to 1,31,000 units (last year).”
In July 2012, the car manufacturer has registered a growth of 7 per cent with total sales of 14,574 units against 13,592 units sold in the same month of 2011. Singh also said that the company's planned powertrain manufacturing plant in Bangalore will commence the production in August this year. Backed by an investment worth Rs. 500 crore, the new powertrain plant will cater to the demands of Etios and Etios Liva. Besides powertrains, the car maker will also start producing transmission units for the aforementioned models by January 2013. According to sources, the car maker is also mulling upon exporting the transmission units that will be produced locally.
Recently the company launched the limited edition model of Etios Liva to mark its anniversary and the merriment of the auto maker has been further increased by the positive sales reports in July 2012. And with what seem like the possible expansion strategy in form of powertrain and transmission manufacturing, the car maker seems to be all set for a good growth in the coming months.
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