Toyota sees strong growth in India
Moneylife Digital Team 25 March 2010

Toyota Kirloskar Motor official claims that the recent troubles with global Toyota recalls have had no Indian impact and that sales continue to surge

Brand Toyota may have taken a beating after the Japanese carmaker had to recall millions of vehicles in the US, but in India the company sees no impact. In fact, the carmaker is eyeing strong growth, reports PTI.

"(There will be) no impact in India. Our sales have doubled. It's limited to the US. Each of our vehicles is in short supply (in India),” said Sandeep Singh, deputy managing director (Marketing) of Toyota Kirloskar Motor (TKM), the company's joint venture with the Kirloskar Group in India.

"(Over the) last two months, we have grown by 100%,” he said, referring to cumulative sales for January-February 2010 which stood at 11,982 units, a 109% increase over the same period last year.

TKM, in fact, is aiming for more than 25% growth in India in the current calendar year (2010) as it targets to sell a minimum of 70,000 units. TKM sold 55,497 units in 2009.

But Singh acknowledged that the growth in the first two months was over a very low base.

"As we go along (in the rest of the calendar year), growth may not be 100%. It will taper down,” he told PTI.

TKM expects growth to slow down in April-May as some states have raised VAT and road tax, while the Centre has hiked excise duty, but believes that "sales should be all right if the economy continues to do well.”

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