Date:22/03/2005 URL: http://www.thehindubusinessline.com/2005/03/22/stories/2005032202091700.htm

Back Toyota's Innova launched in Vizag

Our Bureau

Visakhapatnam , March 21

TOYOTA Kirloskar Motor Pvt Ltd is hopeful that Innova, its new passenger car, will prove to be as popular as its earlier model, Qualis, which has been phased out. The company is aiming at selling 45,000 units this year, said Mr Toyohiko Ino, Director, Marketing.

He was speaking to reporters here on Sunday after the launch of Innova. He said the new vehicle would have three-row seating and the price range would be Rs 6.8 lakh to Rs 9.93 lakh.

Five diesel models and five petrol models of Innova will be available in the market.

"We want to sell at least 45,000 Innova cars during the first year itself. Our manufacturing unit in Bangalore has the capacity of producing 60,000 units. We will increase the capacity depending on the market," he said.

In reply to a question, he said 70 per cent of the car components are being manufactured within the country and the rest imported. "We want to indigenise at least 10 per cent more of the components," he said.

He said the company currently has four models and a 5 per cent market share. "We want to increase our market share to 10 per cent by 2010 and towards that end we may introduce more new models," he said. The company organised cultural programmes and contests on the occasion.