Toyota hopes to increase market share from 3% to 10%

With the launch of company's strategic small car scheduled to be unveiled by 2010, Toyota Kirloskar Motors (TKM) is hoping to increase market share in the country from the existing three per cent to 10 per cent by 2015.     

TKM Managing Director Hiroshi Nakagawa said the company is hoping to increase the market share of all products including the new car.     

"All our products along with the small car,we are expecting to increase by 10 per cent," he said.     

When asked whether the car will compete with Tata's Nano, the Managing Director said "it might compete with Nano or our own Corolla but I don't want to comment on it now."     
He also said that the 'strategic small car' will initially be catering to the Indian market and later on it will be exported to other countries.     

"India is a potential market. It may be little bit flat right now, but this is not so big a problem. It will increase," he added.     

Nakagawa said about 50 Indian engineers along with other engineers are working for the development of the new car.