Unfazed by the growing rivalry, auto maker Toyota Kirloskar Motor (TKM), announced that it will not launch any fresh vehicle in the market by 2015.
In its place, the company will concentrate on fortifying its 2 renowned brands comprising Etios and Liva.
Mr. Sandeep Singh, deputy managing director (marketing), stated, “We will focus on a different game plan. We’ll not roll out fresh models for next the coming 3 year period. We will concentrate on strengthening Etios and Liva.”
Mr. Sandeep Singh added that 2011 was advantageous, and the company saw some slump only during the last 4 month period.
Sport utility vehicles comprising Innova and Fortuner are flourishing. In Liva and Etios, the deceleration was limited to petrol options.
He also said that the diesel vehicles are still booming.
Mr. Sandeep also said that the single model, which has witnessed decline, is Corolla. The division itself has been contracting by around thirty to forty percent.
The firm has dismissed its proposals to bring in its hybrid vehicle Prius in the Indian market owing to the augmentation in duty.
“We were making plans to launch Prius in India. We were also carrying out the feasibility examination. But, after the increase in import duty in the financial plan, we don’t think that it will be possible to roll out the product,” Singh added up.
Toyota Kirloskar Motor sales saw a decline of 26% during the last month primarily because of the closure of a facility and propose to strengthen its production capacitance.
Etios sales during the last month dropped to 4,231 vehicle units as compared to 8,271 vehicle units sold during the equivalent month of 2011 owing to high rates of interest and high petrol rates.
Sales of utility vehicles stayed sturdy with Innova figures surging 9% to 4,682 vehicle units and the Fortuner by 19% to 1,025 vehicle units during the last month