It has emerged that Toyota Kirloskar Motors will not launch any new product in next three years.
Instead, Toyota India plans to spend next 3 years on reinforcing Etios and Liva brands. TKM deputy Managing Director in-charge for marketing, Mr. Sandeep Singh said: “We will not come up with new models for next three years. We will focus on strengthening Etios and Liva.”
Toyota India will soon increase its production capacity from 2,10,000 units to 3,10,000 units annually. Compared to last year’s Nov sales figure of 8271 units, the car maker managed to sell just 4,231 units this November. This sharp drop in sales is owing to increasing fuel prices and the car maker’s Indian manufacturing plant remaining shut down for several days in this period.
Speaking of fast rising compact SUV segment, Singh said: “There is potential for growth in the compact SUV segment. So, it will do well for some years. Our competitors are launching models and it will have some bearing initially. However, we are not entering this segment. Our customers are loyal customers and we are here not for short- term but the long- term.”