Mini Cars: Toyota

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Toyota bags in profit worth $1.2 billion during recall!

The past few months have been raining ‘recalls’, out of which, Toyota had the largest ever global recall. What most of the common men must have thought is that Toyota is going to have a time of its life with a huge loss ever recorded owing to the massive recall. The firm had announced the recall due to a faulty gas pedal. However, in reality the story has proved to be something totally different. Toyota reported a profit of about $1.2 billion from January to March, this year which was the crucial time of its recall.

What amuses us most is the fact that the firm has managed the profit in spite of the expenditures incurred due to the recall which amounted to a little more than a billion dollars (100 billion Yen). To add to the pressure, Toyota also reported a fall in profits as compared to last year owing to the unprecedented spate of incentives to keep sales rolling.

The firm’s head Akio Toyoda, mentioned that they would continue to boost profits by offering high quality, reasonably priced vehicles. However, we hope the high quality part does not repeat with another world wide recall. The firm may not be this lucky next time.

Source: Motoroids

Toyota may launch Diesel Corolla Altis!

Toyota Kirloskar Motors have managed to sell more than 40,000 units of its Corolla since the last five years. Looking at this success, the firm has considered launching a diesel powered Corolla Altis in the near future. Owing to the improved power, performance and efficiency, the Japanese Marquee has observed that diesel powered luxury sedans are gaining popularity in the Indian market.

The diesel Corolla Altis may bear a 1.4-litre turbo diesel engine that currently powers the Yaris hatchback in other countries. Various sources claim that according to Automotive Research Association of India (ARAI), the car will deliver a mileage of 21.42 km per litre. However, the company has not yet confirmed these facts.

“As India is an emerging market for Toyota, it will keep on rolling out new models as well as variants. The company is exploring various options and diesel-powered Corolla Altis is definitely on the cards. As a company policy, details like fuel efficiency and other specifications cannot be shared right now. But yes, we are launching it by either July-end or during early August. All the details would be shared at that point of time,” said a senior company official.

Toyota reveals Etios Hatchback and Sedan

Toyota has announced that the Etios Hatchback will retail for around Rs.4.5-5 lakh and will be powered by a 1200cc petrol engine. The Etios will mark Toyota's foray into the B+ car segment and will compete against the likes of Hyundai's i20, VW polo's and Maruti-Suzuki's Swift. The Etios sedan will be priced around the Rs.10 lakh mark and will be powered by 1500cc petrol engine. It will compete against the current C segment offerings like Ford's Fiesta and Honda's City top name a few.

Toyota officials did not release any more information as the scheduled launch of the Etios concept is in December 2010. Toyota is expecting tthe Etios to register sales of around 7,000 units in the first year of its launch.

Speaking to the media at the Auto Expo, Kazuo Okamoto, Global Vice-President, Toyota Motor Corporation, said that the manufacturer is very excited to finally showcase the Etios Concept which has been specially developed for customers in India. He further said that Toyota's tagline of 'World First, India First' represents the manufacturer's choice of India for the global premier of the Etios concept following which exports to other countries will be evaluated.

Okamoto also said that India is a very important market globally for Toyota. He further commented that the developed markets will not grow at the pace of the comapny's needs and it will be the emerging markets like India and Brazil that will grow faster. Speaking about the manufacturer's future plans, he said that India will play a pivotal role in Toyota's global expansion plans and the time has come for us to strategically accelerate our growth here. He also revealed that Toyota is aiming for a 10% share of the car market by 2015.

The Etios, orginally known as the EFC or the Entry Family Car will don a 1.4 litre diesel engine that's housed in the Yaris and a 1.2 litre or 1.3 litre petrol engine. T It also has the I-real mobility tool. Toyota will set up a new plant and supplier base where the Etios will go under production. The Etios will be initially avaialble in 10 cities including Mumbai, Cochin, Lucknow, Chandigargh and Ahemdabad by the end of this year.

Look who's coming to Auto Expo 2010...

Toyota Motor Corporation announced the unveiling of the concept model of its compact car, for the Indian markets to take place next month at the annual Auto Expo show to be held in the capital, along with its hybrid variant, the Toyota Prius.

Toyota's Indian counterpart, Toyota Kirloskar Motor Pvt Ltd, will start the compact car's production in December, next year at its second plant which is being built in Bangalore. TKM Deputy Managing Director Sandeep Singh said, "Both hatchback and sedan version of concept vehicle of the compact car will be showcased at Auto Expo in New Delhi from January 5th to 11th." "Production will start by December 2010. First year production plan is 70,000" he added.

In eleven year's of Toyota's existence in India, this compact car's project is believed to be the most ambitious and the company is betting big on this initiative to become a volume player. TKM will also be showcasing its hybrid variant, the Toyota Prius at the same event in the capial. "Prius, we are going to display and you can say we are talking about launch of the Prius", Singh said.

When asked about the price tag which will accompany the Prius, Mr. Singh declined to give any details. However, he said that the company is striving hard to convince the Government in granting some concession on duty for Toyota's Prius.

Toyota might launch the Prius along with its compact car

Toyota Kirloskar Motors is just a month's time away from showcasing its compact car for India. With the launch of its compact car Toyota wants to increase its market share by entering the small car segment which registers the higest sales in the country. The manufacturer is also planning to launch its hybrid car Prius in the country.

According to Sandeep Singh, Deputy Managing Director, Toyota Kirloskar Motors, itis a concept vehicle comming from Japan. He said that both hatchback and sedan version of the concept compact car will be showcased at the upcomming Auto Expo in January. He further said that production of the compact car is slated to begin by the end of 2010 and the manufacturer is plaanning to build around 70,000 units.

Toyota Kirloskar Motors will also be showcasing its Prius at the Auto Expo. When questioned about the possibility of its Prius being launched here, the company's Deputy MD commented that one can say we are talking about the launch of our Prius. Mr.Singh also revealed that the company is hoping the government to approve some consession for the hybrid vehicle otherwise the price of the car would be very expensive and it dosen't make sense in paying a high duty and selling it. He declined to comment on a likely price tag for the Prius.

The manufacturer is also vying to increase its dealer network to around 150 dealerships from its current 93 dealerships. A wider dealer network will help the company to attract more potential buyers once its compact car is launched.

Toyota Kirloskar Motor planning to localize production

Toyota Kirloskar Motor is setting up its second car assembly unit plant in Bengaluru. The company is also planning to set up a engine and transmission plant in India. This move is being considered because it will bring down the prices of its cars as vehicle components can be manufactured here rather than being imported.

According to Hiroshi Nakagawa, Managing Director, Toyota Kirloskar Motor, the company is keen to set up a transmission and engine unit in the future in order to localize production. Speaking about the company’s upcoming second plant he revealed that the initial production will be 70,000 units and depending on the demand it can be ramped up to 2 lakh units.

Toyota Kirloskar Motor currently sells the Corolla, Camry, Innova and Fortuner in India. The Camry lands in India as a CBU (Completely Built-up Unit) while the engine and transmission of the Corolla and Innova are imported from its plant in Japan. The company is aiming to launch its small car in the country in 2011 and the new factory once set up will serve as a production aid.

Toyota returns to profit with a bang!

Just a day after Toyota announced its plans to withdraw from Formula 1, the company has unexpectedly returned to profits. This has happened for the first time in nine months.

Toyota had withdrawn from Formula One just a day before. The company had blamed its poor financial situation for the move. CEO Akio Toyoda mentioned that the company is no longer fit to commit the necessary funding to be able to compete in the motorsport. He also stated that the company has decided to focus more on developing exciting road cars instead.

A 21.8 billion yen (£145 million) profit has been registered by the Japanese firm for the second quarter of the current financial year. However, the firm had posted only losses for the previous three consecutive quarters.

The worst financial loss in the Toyota History had been recorded in the last financial year. For this year, the firm had forecasted a whooping 450bn yen ((£3bn) loss which has now dropped to almost 200bn yen (£1.3bn) after posting its current quarter results.

The new car sales target has also been revised by the Japanese company this year by 6.5 percent, to 7.03m units.

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