Toyota launches 10th generation Corolla Altis...

It may be the largest car-maker in the world, but the famed Toyota is finding the going tough in India. The Japanese major has revised its sales target and delayed its 10% marketshare plans by five years to 2015. The company aims to sell 4-lakh vehicles by 2015 from this fiscal’s sales target of 63,000.

Toyota Kirloskar Motor (TKM) vice-chairman Vikram Kirloskar said: “We are looking at a larger market share. We plan to launch several new cars on the small-car platform (with an investment of Rs 1,400 crore) to gain volumes. We will start small-car production and sales around the end of 2010, which will give a sufficient boost to our market share.”

Toyota currently has a minuscule 2.7% market share in India and had sold around 50,000 vehicles last year.
The company launched the 10th generation Corolla Altis in Delhi on Friday at a price range of Rs 10.83 lakh to Rs 12.86 lakh (ex-showroom, Delhi) for the three different variants with a common 1.8-litre petrol driveline.

The top-end variant comes with automatic transmission, an 8-way power driver’s seat and cruise control, while electronic power steering, integrated music system, anti-lock braking system, steering mounted audio controls and dual front airbags are standard fitment on Altis.

TKM deputy-managing director Sandeep Singh said: “We plan to sell 2,000 Corolla Altis every month. The market currently is sluggish with high interest rates and fuel prices proving to be a dampner, but newly launched cars are getting good response from customers.

Altis marks a big step towards getting a jump start in Indian market.” “We are making it attractive to young executives that will create a new market in the C segment. Altis’ main selling point is Toyota’s quality, and it will take Indian consumers’ expectations to the next level,” Mr Singh said.

Source: The Economic Times