Toyota Kirloskar Motor (TKM) launched its hatchback Etios Liva on Monday. The car is priced between Rs 3.99 lakh and Rs 5.99 lakh (ex- showroom, Delhi).
According to the company, the petrol variant of the car will give a mileage of 18.31 km a litre and is available in seven colours. The booking began on Monday, and the booking amount is Rs 50,000. The company has no plans for a diesel variant, as of now.
The target segment
“Our product will be competing with 13 other products in this segment including Maruti Suzuki's Swift and Ritz, Hyundai Motor's i10 and i20, Ford's Figo and General Motors' Beat. We are targeting the youth with monthly income of Rs 75,000 and above,” Mr Sandeep Singh, Deputy Managing Director (Marketing), TKM, told reporters.
Etios Liva will be available in 68 cities across 150 dealership locations.
The Etios brand
On export plans, Mr Hiroshi Nakagawa, Managing Director, TKM, said, “We are looking to satisfy the Indian market first.”
The auto major invested Rs 3,200 crore into the Etios brand. Last year, the company launched its Etios sedan in India.
“Growth has not been as good as last year, but you need more and more launches to spur the market. This launch will bring more energy to the market,” said Mr Singh
“Etios commands 8 per cent market share of B-sedan, B-hatch segment and 21 per cent market share of B-sedan petrol version,” he added.
EXPANSION PLANS
On expansion plans, Mr Vikram Kirloskar, Vice-Chairman, TKM, said, “We are looking at the economics of component making. By the end of 2012, we will have an engine-making plant in place, primarily for Etios Liva and by middle of 2013, we will install a gear-box plant with a capacity 250,000 per year.”
“We are now making inroads into smaller cities. Our bank tie-ups have increased from six to 13,” he added.
The Toyota dealership is expected to increase from 158 to 175 by year end.
SALES AND PRODUCTION
For this calendar year, the sale of Etios (both sedan and hatchback) is expected to be 60,000, out of which 20,000 would be Liva. The target for next year is 100,000. The company has sold 20,000 vehicles to dealers out of which 17,000 have been retailed.
“At present we are producing 6,000 units per month. We are targeting a production of 8,000 units per month September onward,” said Mr Singh. By the end of next year, the company will produce 120,000 cars under the Etios umbrella. The waiting period for the Etios has been brought down to less than a month by increasing production.