Toyota Kirloskar Motor, the Indian arm of the Japanese automobile manufacturer Toyota has announced its plans to boost its sales in India with a two-pronged strategy. The move by the carmaker is an attempt to increase its sales amid low buyer sentiments in the Indian car market.
According to Mr. N Raja Director and Senior VP (Sales and Marketing) Toyota Kirloskar Motors, the first part of the new strategy is aimed at increasing production localization, while the second part will focus on expanding its export operations in India.
Mr. Raja stated that an increase in the production localization will enable the automaker to significantly reduce its prices across its product portfolio. Currently all models by Toyota in India have a minimum localization content of about 50 percent.
On the exports front, the Japanese carmaker plans to ship its products to the Asia Pacific markets and to South Africa as compact cars and sedans have a wider acceptance in these two global auto markets.
The carmaker has already exported 28,000 units to these auto markets in the year 2013-14 and plans to expand its operations.