Toyota Kirloskar Motors has cut down the production for its model, Corolla Altis that was launched barely two months ago. Altis was launched in September 2008 and was expected to clock nearly 2000 units per month.
The company has its manufacturing unit at Bidadi in Karnataka and is currently making only 1000 units. The company officials have refused to confirm the figures as Deputy Managing Director, Sandeep Singh, says, “Certainly there is a production cut for the Altis, but I am not sure what the figure is just now.”
Toyota Corolla Altis is priced between Rs. 10.83 – Rs. 12.86 lakh and about 2500 units were sold in the month it was launched. It has been a successful model for Toyota in India but the company expects a significant drop in the demand in the coming few months owing to the deepening credit crisis in the country. Thus, it has resorted to a cut in its production. The new Coroalla Altis was launched in India to replace the existing Corolla in the country. It comes with standard 5-speed manual transmission and an optional 4-speed automatic transmission and competes with Honda Civic, Volkswagen Jetta, etc. in its segment.