Toyota launches 'Corolla Altis'; eyes 10% market share

Subscribe to Oneindia News

New Delhi, Sep 5 (UNI) Hoping to sell 63,000 vehicles this year and aiming for a market share of about 10 per cent by fiscal 2015, auto major Toyota Kirloskar Motor Pvt Ltd (TKM) today launched the 10th generation sedan'Corolla Altis' for the domestic market priced between Rs 10.83 lakh and Rs 12.86 lakh (ex-showroom, Delhi).

''This year's target is to sell 63,000 units, and by 2015, we are aiming for a market share of about 10 per cent. The Altis marks our big step toward the achievement of this goal,'' Toyota Kirloskar Motor (TKM) Vice-Chairman Vikram Kirloskar said.

The company currently has a share of three per cent of the Indian passenger car market.

Toyota expects to sell about 2,000 units of the Altis a month and 8,000 units by December-end.

The vehicle's features include an 8-way power driver's seat, HID headlamps, steering wheel with audio controls and MID switch, and an Optitron meter.

The company is offering the Corolla Altis in three grades -- the 1.8G M/T, the 1.8 G(L) M/T and a top-end grade 1.8 V(L) A/T model, available in five different colours.

The company is also planning to introduce several new models in the near future to meet its target, he added.

The company earlier had announced an investment of Rs 1,400 crore in setting up its second manufacturing facility in Bangalore to launch a strategic small car for the Indian market within the next two years.

Talking about the small car, Mr Kirloskar said, ''regarding the small car that everyone has been waiting for, we aim to start production and sales around 2010 or early 2011.'' UNI AK MP GC1945

Please Wait while comments are loading...