Toyota’s presence in the Indian car market seems to blossom further with new platform for its small car is to materialize. The platform may share designing a sedan and other compact cars it is learnt. There will be a small car by this year end from the new facility which is in the offing near its unit in Bangalore, said its DGM for Sales and Marketing. The strategy of sharing the platform for making varied versions brings down the production cost considerably. This will make the company to tag the vehicle with attractively lower price than the existing models- Corolla Altis now costs Rs9.65 lakhs.
The move is to make 70% of the domestic components for the small car to be increased at a later stage. This amidst the plan for an engine plant, which may come off anytime. This will be done once the second plant is effected he added. The new plant will have the installed capacity of 1 lakh units at an investment of Rs3000 crore. After the initiative, the production mark has been cut short to 70000 units to face the extraordinary slump in the industry. The MD of Toyota Kirloskar is quite amazed over the sustained market potential in india despite global recession.