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Toyota Kirloskar Motor is planning to set up a new plant in north India in a bid to expand its presence
Toyota is expanding in India and is bullish on Indian prospects. Sources says Toyota expects India to become one of the largest Auto market in the next twenty years. They even predict India may exceed China and parallel to some extent US market in that time frame.
Toyota Kirloskarýs existing plant in Bidadi near Bangalore, which can roll out 60,000 cars a year, is today running at full capacity, the newspaper noted.
The availability of skilled and manageable labour, tax sops offered by some northern states like Uttaranchal and Himachal Pradesh and access to the larger car market in the region are some of the reasons cited for the move, the report said.
Toyota Kirloskar is expected to build on its volume through the launch new models in the volume segment, which today accounts for over 50 pct of the Indian passenger vehicle market, it said.
Toyota Kirloskarýs management had said the company is eyeing 10 pct, or 200,000 units, of the two million units passenger vehicle market in India by 2010. Toyota's current market share in India is estimated at less than 5 pct.
The report said that Toyotaýs subsidiary Daihatsu, which specialises in compact cars, is also expected to bring its products to India.
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