Passenger vehicle sales in India touched a record high of 41.08 lakh units in 2023, growing by 8.3 per cent over the previous year driven by SUVs, which accounted for almost half of the total dispatches from manufacturers to dealers. The record sales have been achieved despite an increase in the average price of vehicles to Rs 11.5 lakh last year as compared to Rs 10.58 lakh in 2022. Market leader Maruti Suzuki, Hyundai Motor India, Tata Motors and Toyota Kirloskar Motor reported their best-ever annual sales in 2023.
The carmaker's Bangalore institute aims to give poor teenagers a leg up and produce skilled workers for the subcontinent's auto boom
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.
With slowing sales and to avoid inventory accumulation, Toyota Kirloskar Motor Pvt Ltd has planned to cut production of passenger cars and utility vehicles at its factory in Bidadi, 35 km from Bangalore.
The Japanese auto maker, which is present in India through a joint venture with the Kirloskar Group, is investing Rs 3,200 crore (Rs 32 billion) for setting up a new production facility in Bangalore to launch its 'strategic' small car in New Delhi.
The German's future remains uncertain even if he has said repeatedly that he expects to be in Formula One next season.
The new SUV comes with a 3.0 litre D-4D diesel engine with five speed manual transmission.
When the workers returned to work for the 6 am shift on Monday morning, the management insisted each employee sign an undertaking, but the workers refused to do so.
It is meant for the rear seat loving owner, who couldn't care much about engine power, or the transmission.
The cutback in production has been announced on top of three days' production halt this month and would impact most of Toyota's models made in Japan, excluding those outsourced to subcontractors, the report revealed. Further, sales of new vehicles in Japan slumped to the lowest level in three decades in 2008 as recession hit Asia's biggest economy, piling pressure on its auto giants, an industry group had said.
In a statement on Wednesday, Toyota had said it would take a one-time, $1.1 billion pre-tax charge against earnings to 'cover the estimated costs of the economic loss settlement and possible resolution costs of civil litigation brought in California by the District Attorney of Orange County and an investigation by a multi-state group of Attorneys General stemming from previous recalls.'
Toyota suspended technical director Mike Gascoyne due to a "fundamental difference of opinion".
Toyota Motor Corp regained the crown as the world's top selling automaker in 2012, posting record-high sales and beating rivals General Motors and Volkswagen.
Various manufacturers, including Nissan and Honda have also been impacted due to faulty airbags supplied by Takata.
The company has exceeded the target president Akio Toyoda set two years ago: to make 1 trillion yen in annual operating profit, and do so with a 5 per cent margin.
The company has exceeded the target president Akio Toyoda set two years ago: to make 1 trillion yen in annual operating profit, and do so with a 5 per cent margin.
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.
Japanese car major Toyota Motor Corporation plans to set up an engine assembly plant in the country and has sought government approval for the proposed venture.
The company has launched the new version of Etios at a price range of Rs 545,000 and Rs 708,000 for the petrol variant and Rs 670,000 and Rs 815,000 (ex-showroom Delhi) for the diesel variant.
The company, which is present in India through a joint venture with Kirloskar Group, is investing about Rs 3,200 crore (Rs 32 billion) to set up its second manufacturing facility in Bangalore to roll out the car by early 2011.
Consumers should be given freedom to make a logical choice, and manufacturers enough leeway so that they can produce what the consumer wants.
Toyota Motor withdrew from Formula One on Wednesday, leaving Japan without a team in motorsport's premier series. Company president Akio Toyoda apologised for the team's failure to record a single race victory since joining F1 in 2002 despite an estimated annual budget of around $300 million.
The decision confirmed Germany's Nick Heidfeld as the eighth placed driver and relegated Ralf Schumacher to 11th at the San Marino Grand Prix.
Germany's Timo Glock will race for the Toyota Formula One team next season, replacing compatriot Ralf Schumacher. Cologne-based Toyota said in a statement on Monday that the 25-year-old had signed a multi-year deal. He will partner Italian Jarno Trulli.
The ride quality of the Cross is best-in-class but it scores low when it comes to handling.
Betting big on its yet to be launched compact car Etios,the world's largest carmaker Toyota on Wednesday said it expects more than half of its overall sales in India during the next year to come from the new model.
Toyota Motor Corp is likely to have retained its position as the world's best-selling carmaker for the first nine months of the year, beating rivals General Motors Co and Volkswagen AG, company figures showed on Monday.
Japan's biggest carmaker Toyota Motor Corp is considering an investment of Rs 1,500 crore
Passenger vehicle wholesales in India rose to a record high in October as companies pushed dispatches to dealers to cater to the enhanced demand in the festive season. The overall passenger vehicle wholesales in October rose to 391,472 units, up 16 per cent from 336,679 units in the same month last year. Last month witnessed the highest-ever dispatches of passenger vehicles in the domestic market by Maruti Suzuki India and Mahindra & Mahindra.
Brand Toyota may have taken some beating after the Japanese carmaker had to recall millions of vehiles in the US, but in India the company sees no impact and is eyeing a strong growth.
'If we are to be a contributor to the economy, we have to reduce carbon and imports.' 'We will achieve both -- that's our target.'
Both the diesel variants will be powered by a 1.4-litre engine.
Auto major Toyota Motors on Tuesday said it is studying the Indian market to launch its eco-friendly car 'Prius', but felt the current duty structure on completely built units CBUs would double the price of the vehicle.
Formula One stewards cleared Brawn GP, Toyota and Williams to race in the season-opening Australian Grand Prix after rejecting the protests of three rival teams on Thursday. After six hours of deliberation at the Albert Park circuit, the governing International Automobile Federation (FIA) said the officials had dismissed protests by Red Bull, Renault and champions Ferrari.
Toyota Kirloskar Motors, makers of Innova, has targeted to sell 4000 units per month in 2007, a senior company official said on Monday.
Toyota unions may challenge the management on the legality of the bonds.
Italian Jarno Trulli seized pole position for the Bahrain Grand Prix on Saturday with Toyota team mate Timo Glock qualifying in second place for the team's first front row sweep. Red Bull's young German Sebastian Vettel, winner in the wet in China last weekend, will start Sunday's race in third place with championship leader Jenson Button alongside in his Mercedes-powered Brawn GP.
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