Toyota looking at 10 per cent growth in 2018

Japanese car maker Toyota is looking at a growth of 10 per cent in the current year with the launch of its new sedan 'Yaris' here today.

In 2017, the company's Indian arm, Toyota Kirloskar Motor, sold 1.4 lakh cars and utility vehicles.

"We are looking at a growth of 10 per cent in 2018. For Toyota, utility vehicles' sales were higher than cars, both sedan and hatchback," senior VP and director of Toyota Kirloskar Raju Ketkale said.

Toyota said it was the policy of the company not to go for volume sales, rather focus on customer satisfaction.

The official said sales of its luxury brand 'Lexus' was going up year after year.

"We are bringing Lexus products as a completely built unit. It was to test the demand in the market first," he said.

Sales of hybrid version of 'Camry' sedan had been hit after the imposition of GST, he said.

"There had been steep rise in tax incidence after GST from 28 per cent to 43 per cent for which sales were hit," he said.

"We are talking to the government and pursuing with the matter for the development of the eco-system for electric and hybrid cars," he added.