Toyota looking forward to a six to seven per cent growth in India, this year

Recovering from a decline in domestic car sales in the past few months, Toyota Kirloskar Motors (TKM) has posted a 12 per cent growth in the sales numbers in June 2014. Riding on the success of the newly launched Corolla Altis, the Japanese manufacturer is now expecting to grow by six to seven per cent in this year.

N Raja, Sr. VP, sales and marketing has revealed that while the 12 per cent growth was definitely a good indication, they are expecting the sales to grow in 2014 only in single digits, by around six to seven per cent.

"The positive feeling is back. But growth will be only in single digits. Footfalls have improved at our showrooms. The customer confidence is slowly coming back. We are waiting for the festive season, starting from Onam, Navrathri and Deepavali," Raja said.

The 2014 Corolla Altis was launched in the last week of May and in the last month, Toyota managed to sell 922 units of the D-Segment sedan. The Corolla Altis already has a waiting period of two months and the demand seems to have exceeded the company’s expectations. Despite the additional demand for the car, Toyota says that they do not have any plans to increase the capacity of their manufacturing plants, which seems fair as the demand for the premium car might slow down as time passes by.