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Toyota expects sales growth of 38 per cent


Japanese car major Toyota is expecting sales growth of 38 per cent during 2010 at 74,000 units, a company official said.

Last year the company sold 54,000 units across all models and this year the figure should be touching 74,000, Koji Nagata, executive managing coordinator and director of Toyota Kirloskar Motors said.

He said with the launch of Etios compact car, the company is likely to sell 1,50,000 units in 2011.

The target sales for Etios sedan and hatchback is 70,000 units and selling would start from January, he told reporters here today.

With Etios, Toyota marked its entry into the compact car segment whose market size in the overall passenger car industry is almost 50 per cent.

"We want to participate in the mainstream segment. So far we have been only in the premium segment," Nagata said.

The present level of localisation of Etios is 70 per cent and would reach 90 per cent in the next few years, he said.

The company was also expanding the dealer network from 97 to 150 by 2011 end.

The second plant would be commissioned by the end of the month. The plant would manufacture Etios.

So far, the company had invested Rs 6000 crore in India, company sources said.