Toyota Kirloskar India 23% sales decline in February 2013
Toyota Kirloskar 23% sales decline in February 2013. Toyota Kirloskar Motors sold a total of 12,756 units in February 2013. This was a drop of 23% as compared to 16,659 units sold in the same month in 2012.
A major reason for these figures were sluggish markets while additional levies on SUV and utility vehicles have compounded the problem further. At the end of February Toyota Kirloskar Auto Parts formally announced the inauguration of their Gasoline Engine and Transmission Plant in Bangalore. The opening ceremony was held at Bidadi on the outskirts of Bangalore and will go a long way in localization of gasoline engine and transmission for Etios.
The new plant has resulted in additional employment opportunities both direct and indirect as also the ability to serve customers in India better. The new plant will see a total investment of INR 500 crores. Annual capacity for the engine plant is 1,08,000 units and for transmission plant is 2,40,000 units.