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Rediff News  All News  » Business » Toyota rides on upgraded models to regain market share

Toyota rides on upgraded models to regain market share

June 10, 2014 15:15 IST

A Toyota Altis car.Having sorted out its differences with the employees’ union, albeit temporarily, the Toyota Kirloskar Motor is aiming at regaining its market share through the launch of upgraded versions of existing models.

The company aims to contribute a sizeable portion of the Indian passenger car market by 2025, by when it expects the market to touch 10 million units.

Towards achieving this goal, the company is considering options to launch a compact SUV and a luxury car -- Lexus among others in the coming days.

It is also looking at increasing the localisation significantly across its models.

“We see a lot of opportunities for us to increase our sales and add customers in India. We already have one million customers right now.

"The Indian passenger car market is expected to touch a 10 million units sales mark by 2020-25.

"Toyota aims to satisfy all its customers 100 per cent by meeting their expectations,” said Naomi Ishii, Managing Director, TKM.

Image: Toyota Altis; Photograph, courtesy: Toyota

BS Reporter in Bengaluru