Toyota to produce 70,000 compact cars in 1st year

Japanese car maker Toyota Motor Corp, which is coming out with a compact car by December 2010 in India, will produce 70,000 units in the first year, a top official of Toyota-Kirloskar Motor said.

"To begin with we will be manufacturing 70,000 units of the compact car and are looking at a 10 per cent market share within one year of its release," Deputy Managing Director TKM Sandeep Singh told reporters on the sidelines of the launch of new Prado diesel land cruiser here today.

On a query, he said the compact car would be 70 per cent indigenous, except for the engine which will be imported from Japan, "unlike the present cars which is only about 30 per cent indigenous."

Singh said both the hatchback and sedan version of the concept vehicle of the compact car will be showcased at the Auto Expo to be held in New Delhi from Jan 5 to 11.

However, he declined to reveal the price of the compact car saying, "I cannot reveal the price now. Once it is launched, you will come to know."