The Telegraph
Since 1st March, 1999
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Toyota on profit track, aims 40% rise in sales

Calcutta, Sept. 10: Toyota Kirloskar Motor, the subsidiary of the Japanese auto major Toyota Motor Corporation, has registered maiden profits in the last couple of months after conceding losses for three consecutive years.

The company, which cornered the largest market share in the multipurpose vehicle segment with its single offering Qualis, is also targeting an over 40 per cent jump in its turnover during the current fiscal year to Rs 1,600 crore from Rs 1,131 crore last year.

Satoshi Aoki, director (marketing) said the company is optimistic about the growth in sales of the Qualis, which has been refurbished and relaunched.

“We have also plan to launch two more vehicles, Camry and Corolla, to strengthen our presence in the premium passenger car and multipurpose vehicle segments,” Aoki said.

While the Camry will be imported in completely-built-unit form, Corolla, which will be placed between the C and D segments, will be produced in the company’s manufacturing unit at Bangalore. The Camry is set to be launched in November this year, while Corolla will hit Indian roads by next February.

Sandeep Singh, general manager (marketing) said the company is looking at the niche market and not for volumes as far as the Camry is concerned. But, for Corolla, we are certainly looking at creating a new segment in the premium range as we did in case of the Qualis, he said.

The company, where Toyota holds a 99 per cent stake, has invested Rs 228 crore to create a production line for Corolla and also to expand the plant’s overall capacity to 50,000 units. It also aims to sell 36,000 vehicles during the current fiscal year. The company has sold 65,000 vehicles ever since it started production three years back.

The company is also eyeing the sports utility vehicle market although no decision has yet been taken. Toyota Kirloskar is set to change its accounting year to April-March from the calendar year. Toyota has also set up a 100 per cent export-oriented unit to manufacture transmission equipment for vehicles.

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