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Kirloskar Motor cuts down its small car projections |
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Toyota Kirloskar Motor has cut down annual projections for its small car, slated to debut in early 2011, from one lakh units to 70,000 units.
This has come as a result of changed market conditions after the global recession, which could have prompted the company to tread cautiously on initial numbers.
Mr. Sandeep Singh, Deputy Managing Director, Marketing, stated that TKM has invested a substantial portion of the Rs 3,000 crore earmarked for the project in Bidadi near Bangalore. The plant will be commissioned by the end of 2010. The `strategic compact car` will have 70% local content.
Mr. Singh said, "It will be manufactured on an all-new platform. The car will be sold only in India but it will later head out to other markets as well."
Regarding the sales in the current year, he said, "We want to maintain what we did last year. The company sold 51,800 units in 2008 of which the Innova accounted for 40,000 units while the Corolla Altis, Camry and the luxury sports-utility vehicle Prado accounted for the balance."
(Posted on : 12/06/2009)
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| Kirloskar Motor cuts down its small car projections |
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