Toyota’s small car plans for India
March 20th, 2007 Leave a comment Visited 42 times, 2 so far today
Toyota’s small car plans for India
Toyota Motor is currently the second largest automaker in the world after General Motors. The company has big plans for India as they aim to develop a compact car in India to generate the sales it requires.
Atsushi Toyoshima, Toyota’s managing director in charge of India said in a statement: “We need to go into that kind of segment. Without that, Toyota can’t be a substantial player in the market. That’s very clear.”
Toyota currently is selling Corolla and Camry sedans in India along with Innova and Prado and has a 0.7 percent share of the Indian auto market. The market is dominated by players like Maruti Suzuki, Tata and Hyundai which specializes in selling compact cars.
Toyota now has plans to introduce smaller models as it seeks to win a 10 percent share in India. Market analysts believe that the India auto market is big enough to grow 15 percent annually for the next 20 years.
They are not alone to be planning smaller cars for India. General Motors, Honda, Fiat and others too are planning to introduce smaller cars in the coming years to gain a significant market share in India.
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March 21st, 2007 at 12:11 pm
Great to identify the true target market. Such a large car manufacturer having less than 1% of market share has to be corrected. India requires small cars; thats were Hyndai made success, their Santro is an all time success and give them a good market share. India is coming up as hub for small cars.. so its a good news that Toyota is coming up with small cars.
May 20th, 2007 at 1:47 pm
give me a emil alerts about new arrivals car in india