Toyota expects sales to grow by 7-8 per cent this fiscal; commences Yaris deliveries

TKM, which is a joint venture between auto major Toyota and Kirloskar Group, today started deliveries of the new model across the country.

Published: 18th May 2018 02:36 PM  |   Last Updated: 18th May 2018 02:36 PM   |  A+A-

Logo of Toyota Motor Corp (File Photo | Reuters)

By PTI

NEW DELHI Toyota Kirloskar Motor (TKM) expects sales to grow by around 7-8 per cent this fiscal as it marks its entry into the mid-sized sedan segment in the country with Yaris.

TKM, which is a joint venture between auto major Toyota and Kirloskar Group, today started deliveries of the new model across the country.

The company expects to deliver around 1,000 vehicles today itself. The manual transmission variants of the petrol powered Yaris are priced between Rs 8.75 lakh and Rs 12.85 lakh. Automatic variants are tagged between Rs 9.95 lakh and Rs 14.07 lakh (ex-showroom).

"We are entering a very competitive segment with Yaris. But with a host of industry first features, we are confident of the vehicle performing well in the market," TKM Deputy Managing Director N Raja told PTI.

Raja said the company is also counting on the existing around 10 lakh Toyota customers in India to drive sales for Yaris.

When asked about the company's sales growth expectations during the current fiscal, Raja said: "Our sales growth rate currently is around 3 per cent. With Yaris coming in, we hope to see our growth rate more or less like the industry, single digit -- 7-8 per cent this year."

The highly competitive mid-sized sedan segment in the country is around 2 lakh vehicles a year, dominated by the likes of Honda City, Hyundai Verna and Maruti Suzuki Ciaz. Commenting on the response for Yaris so far, Raja said: "In less than a month of announcing the price and opening the bookings, we have collected nearly two months equivalent of customer orders."

Having initiated production last month itself, the company is looking forward to ship around 4,000 units across the country for customers by the end of this month, he added.

"We hope to service all these customers by the end of this month which will take us amongst the top three in sales in the petrol segment," Raja said.

The Yaris comes with a 1. 5 litre petrol engine mated to 7-speed CVT (continuous variable transmission) and 6-speed manual transmission options.

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL2018