Toyota India, Toyota Etios, & Bmw India Nissan India. Toyota expects to boost India sales about 20 percent this year from 55,000 vehicles last year, Hiroshi Nakagawa, managing director of the company’s local unit, said today. The carmaker intends to more than triple its market share to more than 10 percent by 2015, he said.
Volkswagen, Europe’s largest carmaker, aims to reach about that figure in four years, Jochem Heizman, a member of the company’s management board, reiterated at the show. The company, which is buying a 20 percent stake in Suzuki, will begin selling the Polo in India in March, he said.
Toyota’s low-cost Etios compact will go on sale in India later this year, according to a company statement. The automaker aims to sell 70,000 in the first full-year of production. The model will also be exported, Okamoto said.
Hyundai Motor Co. ranks second in Indian car sales ahead of Tata Motors Ltd., the maker of the Nano, the world’s cheapest car.
Toyota has previously struggled to win market share from Suzuki’s Maruti Suzuki India Ltd. unit, missing a goal announced in 2003 to get 10 percent of the market by this year. Maruti’s nationwide network of dealers may also help it rebuff future challenges, said Jatin Chawla, an analyst at India Infoline Ltd.
“It would be difficult to tackle that factor upfront,” he said. Challengers will likely focus on the 20 biggest cities for the first few years, while Maruti targets rural and semi-urban markets to maintain its market share, he said.
The new compact will be smaller than the Jazz, known as the Fit in Japan, according to the company.
Honda’s passenger car sales in India declined 16 percent to 50,174 units in the year ended March 31, giving the company a 4.1 percent share of the local market. Honda was the fourth- largest carmaker in India, lagging behind Suzuki, Hyundai Motor Co. and Tata Motors Ltd.
Suzuki, which offers seven hatchbacks through its Maruti Suzuki India Ltd. unit, controls 52 percent.