Toyota Motor Corporation is looking at ways to cut down its capital expenditure the world over, but its business expansion activities in India are to go on as planned. Work on the company’s Rs. 3,200 crore second plant at Bidadi, near Bangalore, which will have an installed capacity of one lakh cars, will continue on schedule. The new plant in Bidadi is meant primarily for the production of the small car that Toyota plans to launch in 2010.
Though Toyota’s sales fell by upto 50 per cent in the past two months, company officials are optimistic about its future growth in India. Sales are expected to pick up in the second half of 2009.