Toyota Kirloskar Motors India has put its small car program on fast-track for its small car, Yaris, to be launched in India. More than 50 engineers are toiling their way at Toyota's R&D centres to speed up the launch of the new small car model in India from Toyota. The company currently holds 3 percent market share in the country while it is a global auto leader by sales. It plans to capture more than 10 percent market share by 2015.
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The new car for India is also under testing and development at company's research and development centre in Japan. It would be a Toyota Yaris look alike, commented Hiroshi Nakagawa, MD, Toyota Kirloskar Motor India. He also stated that the company also plans to launch a sedan and a hatchback model in the compact car segment.
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Toyota started modestly in 1997 with a capacity of producing 27,000 cars annually at its Karnataka plant and increased its capacity by an average of 18 percent each year. Now it has laid foundation for its second plant in India in the state. Once the small car project is complete, it shall establish a second plant there which would scale up its investments and equipments in the country. It shall also expand its dealer network in India to boost its sales.
