Toyota Announces No New Product in Indian Market for 3 Years
Toyota Kirloskar Motors suffered a 26 per cent drop in its sales for the month of November, 2012 due to the closure of plants and depreciating market situations. However, where most other car makers are planning to spice things up with the introduction of new products into the market, TKM has announced that it has no plans to introduce any new products for the next three years.
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TKM’s deputy managing director in-charge for marketing, Mr. Sandeep Singh said: “We will not come up with new models for next three years. We will focus on strengthening Etios and Liva.” He also made statements regarding the good sales of the Innova and Fortuner UV's and the compact SUV market - “There is potential for growth in the compact SUV segment. So, it will do well for some years. Our competitors are launching models and it will have some bearing initially. However, we are not entering this segment. Our customers are loyal customers and we are here not for short- term but the long- term.”
The total sales for the Toyota Etios and Liva were 4,231 units for the month of November, 2012 as compared to last years 8,271 units sold. However, the Toyota Innova and Fortuner both recorded sales of 4,682 units and 1,025 units respectively, which is a growth of 9 per cent and 19 per cent respectively.
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