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      Vehicle Financing to Be Launched in India from Toyota

      Satish

      Satish

      Toyota Financial Services is contemplating its options to make its foray in India. It is the vehicle financing arm of Toyota Motors Corporation, Japan. Toyota has a joint venture with Kirloskar Motors in India as Toyota Kirloskar Motors (TKM) which has already sent a detailed report and a proposal for the initiative to Toyota headquarters in Japan.

      According to the proposal submitted by Toyota Kirlosker Motors, nearly 60 to 70 percent Toyota cars are currently being financed by private financial institutions or banks in India. If Toyota introduces its financing arm in India, it will be able to offer the most attractive interest rates to its customers and thus boost its sales as well.
      Toyota has recently launched its new variant, the Toyota Corolla Altis, in India. It also plans to launch the CNG variants of its cars in the country. India may soon witness CNG-powered variants of the Innova and the Corolla in India. Toyota also plans to introduce the diesel variant of Corolla Altis in India powered by the 1.4 litre turbo-diesel engine that currently powers its hatchback model, Toyota Yaris. Toyota has sold only 40,000 units of the Corolla in India since its launch last year. It now plans to sell 20,000 units of Toyota Corolla Altis every year.
      Toyota