Toyota Kirloskar Motors Ltd (TKML) will hike its installed production capacity by 33% from 45,000 units to 60,000 units by next year.
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The company targets sales of 47,000 vehicles this year in excess of its full capacity (45,000 units) compared to 40,000 units sold last year. The expansion will cost €24.5 million (INR1.3 billion) entirely funded internally.
The ramp up is necessary for Toyota to enter the volume segment since it plans to corner 10% of the projected two million unit Indian market by 2010. To reach a 200,000-car volume, the IMV platform Utility Vehicle currently being developed and a small car from the Toyota/ Daihatsu portfolio should find their way into the Indian market in the short term.
In the IMV (Innovative Multipurpose Vehicle) project, Toyota Kirloskar Auto Parts (TKAP) is the chosen supplier of transmissions to Toyota plants in ASEAN, South Africa and South America. The newly developed platform will not be a derivative of a Japanese product but built to the needs of the ASEAN markets.
TKML does not rule out the possibility of a Daihatsu platform being launched in India.
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By GlobalDataDeepesh Rathore / Tilak Swarup
