The launch of 7th generation Camry by Toyota and its refreshing beige coloured interiors have not fascinated the car enthusiasts much. But Toyota did have made the buyers to trust its product’s quality and investing in it.
When judged, Toyota ranked out higher among the other car manufacturers in the market. Where its rivals are struggling in some of the segments to sell their products, Toyota has already made its hold in those segments.
If Fortuna is considered, it has sustained its position as the leader of the market since two years after its launch, on the other hand, Innova, another product with high margin, have faced an increase in its sales all of a sudden since it has gone through a cosmetic facelift. It was launched at the Auto-Expo in January. Even after the launch of many D – segment cars, Corolla has also maintained its tight grip in the market.
With these reports in their hands, Toyota believes that within the coming 10 years, the Indian market will grow by leaps and bounds and that is why, with the growing market, the demand of the products will also increase. And with the launch of twin Etios by Toyota, it has signaled that it is headed towards entering into new segments with various price points.
Toyota already has its two plants, set up in the outskirts of Bengaluru, Innova, Fortuna, Etios and Corolla is being manufactured there. According to a news article in Japan Times, The estimated increase in demand of its products have made Toyota to Think of setting up a new plant in India to meet the demands effectively and wisely.
Reports says that, Toyota have plans to set up its third manufacturing plant in Hosur district of Tamil Nadu. The two commercial vehicle manufacturers Ashok Leyland and The two wheeler manufacturer TVS Motors are known to have already invested in the particular region. Toyota is reported in aiming to start its operations by the year 2016.
The capacity of manufacturing by the existing plants of Toyota is recorded to be 1,60,000 units per year. It is believed that after the completion of the set up of its 3rd plant, the manufacturing capacity will boost thus manufacturing 3,10,000 units on per year basis. Since India is considered as an export hub of automobiles to the emerging markets of the countries like South Africa, also it is being used by many other automobile manufacturers for building compact cars for European, African, Middle Eastern and South East Asian countries.
The coming years will witness the Indian market to grow in four folds thereby inviting car lovers from across the globe a profitable soil to make and also to sell cars by beating China and Brazil which are supposed to grow two folds.
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