K. K. Swamy, deputy managing director of Toyota Kirloskar Motor, with the new Corolla variant in Bangalore on Thursday. (AFP)

Bangalore, Feb. 19 (PTI): Riding on the success of Corolla, Toyota Kirloskar Motor today launched a variant of the sedan in the Indian market.

Company officials told newspersons here that the ex-showroom Bangalore price for the new Corolla variant, which comes in black mica and champagne mica colours, is Rs 10.75 lakh.

The company said that Toyota Corolla has emerged as a leader in its segment in India, garnering a market-share of more than 42 per cent within a span of 12 months.

Since its launch a year ago, the Corolla has sold more than 9,000 units, including 1,004 last month, and continues to command a waiting period of two to four weeks across the country, it said.

“Toyota Corolla became popular because it listened to the customers’ needs and met their expectations,” according to managing director A Toyoshima.

Toyota Kirloskar is a joint venture between Toyota Motor Corporation and the Kirloskar group. It has invested nearly Rs 900 crore in its plant at Bidadi, employing more than 2,300 people, on the outskirts of Bangalore.

During calendar year 2003, Toyota Kirloskar has sold 40,507 vehicles, including 31,444 multi-purpose vehicle Qualis, 8,020 Corollas and 1, 043 Camry luxury sedan, which is sold through the import route, officials said.

The company is tracking a year-on-year growth of 56 per cent in 2003-04 and is confident of closing it with a gross turnover of Rs 2,700 crore compared with Rs 1,745 crore in the previous fiscal, according to officials.