In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
TKM is investing Rs 3,200 crore in the second facility, which will have an initial capacity of 70,000 units as it gears to launch a small car in the Indian market by early 2011.
Toyota Kirloskar, as part of its expansion plans to set up a small and compact car manufacturing unit, would invest about Rs 3,200 crore (Rs 32 billion), creating 2,000 jobs, home minister V S Acharya told reporters after a Cabinet briefing.
The renewed talks between Toyota Kirloskar Motor management and employees union to end the deadlock over labour issues at two plants near Bangalore have failed.
Toyota Kirloskar Employees Union (TKMEU) on Saturday said they were ready to resume work on March 24 but would not sign any undertaking as desired by the company, which has agreed to lift the lock-out at its two plants in Bidadi near Bangalore following government's conciliatory efforts.
Close to 50 models were launched in India in the past 12 months, but companies have not been able to realise their potential due to the pandemic.
Battered by the Covid-19 pandemic, the maker of the Fortuner and Innova models is staring at a steep loss in the ongoing financial year.
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The model has sold more than 88,500 units since its introduction in India in 2003.
World's largest carmaker Toyota on Monday said it has cut production in India by 30 per cent this month, but is not holding back its planned investments of Rs 3,200 crore (Rs 32 billion) in the country.
The country's largest carmaker Maruti Suzuki India (MSI) on Monday reported a 11.8 per cent increase in wholesales to 164,469 units in February. The company had sold 147,110 units in February last year, Maruti Suzuki India (MSI) said in a statement. Domestic sales increased 11.8 per cent to 1,52,983 units last month, as against 1,36,849 units in February 2020, it added.
Toyota on Thursday launched updated versions of its sedan Camry in India.
Auto major Toyota Kirloskar Motor on Thursday unveiled its first crossover, 'New Etios Cross', targetting young customers.
Cumulative sales of India's top passenger vehicle makers -- Maruti Suzuki, Mahindra and Mahindra, Tata Motors, Honda Cars, and Toyota Kirloskar -- increased to 206,418 units in February over 200,322 units in the same month last year, an increase of 3 per cent.
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Besides, Toyota and MG Motor also reported nil sales as they suspended operations even before the imposition of lockdown on March 25 to check the spread of coronavirus. In two-wheeler segment, niche bike maker Royal Enfield said it had zero sales in the domestic market but exported a total of 91 units last month.
Toyota Kirloskar Motor (TKM) on Wednesday said it will recall 44,989 units of multi-purpose vehicle Innova manufactured between February 2005 and December 2008 in India to rectify a faulty cable on the steering wheel.
BS-VI emission norms and the COVID-19 lockdown impacted the dispatches.
Japanese car major Toyota Motor Corp is reported to be planning an investment of $330 to 420 million (about Rs 1,890 crore) for setting up a small car plant near its existing facility in Bangalore.
Toyota Kirloskar Motors, makers of Innova, has targeted to sell 4000 units per month in 2007, a senior company official said on Monday.
The pre-bookings of the car has already started.
Japanese auto major announced top level management changes in its Indian arm with Sandeep Singh, Deputy Managing Director slated to move for a new role in its Asia Pacific operations.
Designed by Toyota Racing Development, the limited edition will be available in the 4x4 MT variant of the Fortuner, the company said in a statement.
Retail rates of the fuel will now reflect international movement in oil prices.
It is the global leader in car sales but in India, is a distant fifth.
Toyota Kirloskar Motor is lifting the lock-out at its Bidadi plant on the outskirts of the city, effective Saturday, company sources said.
Young Indian entrepreneurs hope to share some of the limelight too at the Hyderabad event.
Toyota Kirloskar Motors and Honda Motors have announced plans to launch a small car in India.
Japan's biggest carmaker Toyota Motor Corp is considering an investment of Rs 1,500 crore
Covering 37 different legislations such as the Partnership Act of 1932, Insolvency and Bankruptcy Code, and laws on environmental protection, consumer protection and labour interests, the recommendations have been shared with Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman.
Cars and two-wheelers attract 28% GST and a cess in the range of 3-22%, taking the effective tax rate to up to 50%.
The body has been detected inside the 370-foot-deep coal mine in Meghalaya's East Jaintia Hills district,
Mechanically, the car is based on the Liva and sports the same running gear. However, the visuals of the hatchback have been tweaked to give it a rugged appearance.
Bengaluru's manufacturing sector has in the past few years witnessed one of its worst phases, thanks to labour unrest in the region's industrial hub.
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