<p>“We hope that within 3-4 years, we will increase our volume of sales in India by more than three times. Our planned compact car will be a factor in the growth,” Toyota Motor Corp Senior Managing Director Akira Okabe told reporters here.<br /><br />Indian market assumes importance for Toyota as its operations here are profitable contrary to over US$800 million losses it reported for global operations in the April- June quarter.<br /><br />The company, which is present in India through a joint venture with the Kirloskar Group, had less than one-fifteenth of sales of the country’s largest car maker Maruti Suzuki, which sold 7,22,144 units in 2008-09.<br /><br />Of the total 15,51,880 passenger vehicles sold in the last fiscal, Toyota could managed to sell only 46,892 cars.<br /><br />“The compact car will hit the Indian roads by late 2010 or early 2011. We hope it will prove to be a major contributor in our company’s growth,” Okabe said, adding that it is expecting sales to be almost flat this year.<br /><br />The ‘strategic’ small car would not only help the company to penetrate deeper into the Indian market, but it could turn the country into a hub for small cars in the future, he added. <br /><br />Also, with motorisation in the country picking up steadily, the company would continue to introduce more models in the coming years, Okabe said.</p>
<p>“We hope that within 3-4 years, we will increase our volume of sales in India by more than three times. Our planned compact car will be a factor in the growth,” Toyota Motor Corp Senior Managing Director Akira Okabe told reporters here.<br /><br />Indian market assumes importance for Toyota as its operations here are profitable contrary to over US$800 million losses it reported for global operations in the April- June quarter.<br /><br />The company, which is present in India through a joint venture with the Kirloskar Group, had less than one-fifteenth of sales of the country’s largest car maker Maruti Suzuki, which sold 7,22,144 units in 2008-09.<br /><br />Of the total 15,51,880 passenger vehicles sold in the last fiscal, Toyota could managed to sell only 46,892 cars.<br /><br />“The compact car will hit the Indian roads by late 2010 or early 2011. We hope it will prove to be a major contributor in our company’s growth,” Okabe said, adding that it is expecting sales to be almost flat this year.<br /><br />The ‘strategic’ small car would not only help the company to penetrate deeper into the Indian market, but it could turn the country into a hub for small cars in the future, he added. <br /><br />Also, with motorisation in the country picking up steadily, the company would continue to introduce more models in the coming years, Okabe said.</p>