Toyota City, Japan, Oct 07, 2011 - (ACN Newswire) - Toyota Motor Corporation (TMC) announces that its production and sales subsidiary in India, Toyota Kirloskar Motor Private, Ltd. (TKM), is to begin export of the "Etios" series sedan and hatchback to South Africa in March 2012. Although TKM has been manufacturing vehicles for sale in India since 1999, exports of the Etios will mark Toyota's first vehicle exports from India.
The models for export will be based on the Etios platform currently sold in India, but will be developed and produced to fit the lifestyles, consumer preferences, climate, road conditions and usage considerations in South Africa.
In line with its Global Vision released in March of this year, TMC is positioning emerging markets as a priority and is aiming to increase sales in those markets. To match the growth of India's automobile market, TKM's annual production capacity is scheduled to increase from its current 160,000 vehicles to 310,000 vehicles in 2013. The start of vehicle exports from India represents an expansion beyond India's domestic market for TKM and a commitment by TMC to developing India into a global production and supply base for vehicles and transmissions.
TMC will continue to remain receptive to input from people around the world as part of its efforts to build ever-better cars that exceed expectations.
Outline of Toyota Kirloskar Motor Private, Ltd.
President Hiroshi Nakagawa
Establishment October 6, 1997
(start of production: December 1999)
Location Suburb of Bangalore, Karnataka State, India
Products Innova, Fortuner, Corolla, Etios and Etios Liva
Capital Approx. 7.0 billion rupees
Equity TMC: 89%
Kirloskar Group: 11%
Employees Approx. 5,700 (as of August 31, 2011)