Toyota hopes to sell 20k units of Altis...

Toyota Kirloskar Motor targets sales of 20,000 units of new sedan Corolla Altis in India in 2009, said Sandeep Singh, the company’s deputy managing director, (marketing).

"We have 1,100-plus bookings and expect to sell a minimum of 8,000 cars in September-December,” Singh said.

Toyota Motor Corporation, the world’s largest auto-maker, holds 89 per cent in joint venture Toyota Kirloskar Motor, with the Kirloskar group owning the remaining stake.

In 2007, the company had sold 6,800 units of its older version of Corolla, which it has now phased out. Singh expects the C segment, in which Toyota has positioned Corolla Altis, to grow at 10-12 per cent in 2008 and 15 per cent in 2009.

The C segment forms 3 per cent of the total vehicle market in India. Singh also expects the new Altis to help Toyota garner a 30-35 per cent market share in the C segment by the 2009-end, up from 15 per cent right now.

“The slowdown in the auto sector is temporary and we should see an upturn by the beginning of the next year. Also, when quality is better, people are willing to pay,” said B Ashish Kumar, the company’s general manager (marketing).

The company executives were speaking at the launch of the Corolla Altis, with a starting price of Rs 10.8 crore.

Source: Business Standard