Toyota does not plan to acquire local partner Kirloskar Group, Indian media reports said.
Toyota Kirloskar Motor managing director Naomi Ishii said: “We have a long term relationship with Kirloskar and we are happy with the present arrangement. Neither are we planning to increase our stake to 100%, nor are they looking at exiting the partnership.”
Kirloskar Group owns 11% of the Toyota Kirloskar Motor joint venture in India, ET Auto.com reported, citing PTI.
On asking about why the company’s market share of around 5.7% was not increasing, Ishii said: “We are not chasing any numbers here though growing profitably is a call for me. But my priority is to ensure that Toyota retains 100% of its customers. We have a total of 1m customers here and our primary aim is to make them satisfied and loyal in every way.”