Toyota Kirloskar Motor, the Indian arm of the Japanese automobile manufacturer Toyota has redrawn its strategy for the Indian car market. The carmaker has stated that it will be withdrawing focus from the volume selling small car segment in India to bigger cars.
According to Mr. Vikram Kirloskar Vice-Chairman Toyota Kirloskar Motor, the automaker has no plans to venture into the small car market and instead wants to focus its attention to the large car market in India. The carmaker already has a presence in these segments with car models such as the Corolla Altis premium sedan and the Innova multi-utility vehicle.
While the small car market in Indian accounts for about 50 percent of the car sales in India, the segment is dominated by majorly by the top carmakers in India, Maruti Suzuki and Hyundai India.
Commenting about the same, Mr. Kirloskar stated that Toyota has been unable to break the cost barrier in the small car segment. He added that the Japanese automaker now has a clear plan of launching a slew of new products in India.