Toyota aims to acquire 10% market share by 2015

Toyota Kirloskar Motor India, a subsidiary of Japan based leading car maker Toyota, is eying to increase its market share to 10 percent from existing 3 percent, by year 2015. Company is also planning to increase the number of its dealerships to 150 from existing 99 dealers, so that it can enhance its market presence and customer reach in India.

Toyota India, is expecting high sales figures form its upcoming flagship small car model Toyota Etios. The car was showcased at the Delhi International auto show in January, where the company announced that it will launch this model in India by the end of this year.

The company was planning to improve the manufacturing capacity to 1.5 lakh vehicles this year, said, Sailesh Shetty, general manager, sales, Toyota Kirloskar Motor, told reporters. The company is aiming to sell 1,50,000 units this year, as against 70,000 units sold last year. The commercial production of Toyota Etios model will start by the end of this. Company will establish a second production facility at Bidadi near Bangalore with a manufacturing capacity o0f 70,000 units.

TKM is a joint venture between Japanese auto giant Toyota and India's Kirloskar Group, which was started production at the first facility in 1999 with the investment of Rs.1,500 crore.