Toyota launches 'Corolla Altis' in India

Noida, Sep 5: Japanese auto major Toyota launched 'Corolla Altis' with an eye to capture a 10 per cent market share of the passenger car market in India. Altis is 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. Corolla Altis will be available with a 1.8 petrol litre engine in three different grades and five 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