The Hindu Business Line : Toyota Kirloskar hopes to break even in 2006

Cruise control
Looking at 37 per cent sales growth led by Innova.
Hopes to sell 1,60,000 transmissions this year.
In talks with various State Governments for setting up new plant.

TRENDY LOOK: Mr Vikram Shreekant Kirloskar, Vice-Chairman, Toyota Kirloskar Motor Pvt. Ltd, at the unveiling of all-new sixth generation Toyota "Camry'', in the Capital on Thursday. — Kamal Narang

New Delhi , March 9

Toyota Kirloskar Motors (TKM), which has so far invested Rs 2,400 crore in the Indian market, is targeting to achieve break-even after wiping out accumulated losses in 2006.

"We had set a target six years to reach break-even point and we are on course to meet it this year," the Deputy Managing Director of TKM, Mr K.K. Swami, told newspersons here while launching a new version of its premium sedan Camry, priced between Rs 19.8 lakh and Rs 21.4 lakh.

The company is looking at 37 per cent sales growth this year led primarily by growing demand for its multi-utility vehicle Innova.

Mr Swamy said TKM was eyeing total sales of 56,000 units this year as against over 40,700 units sold in 2005.

Giving a break up of the sales target, he said the company expected to sell about 44,000 units of Innova, 10,000 units of Corolla, 1,000 units of Camry and 250 units of Prado.

The company, which also manufactures transmissions for Toyota, hopes to sell 1,60,000 transmissions this year, which would contribute Rs 400 crore to the revenue.

Asked about the proposals for a new plant, which is key to achieving the target of a 10 per cent market share by 2010, Mr Swamy said TKM was "still evaluating and studying various options, and is in talks with a number of State Governments."

The company has a current capacity of 60,000 units at its Bidadi plant in Karnataka.

While Toyota owns 89 per cent in the joint venture, 11 per cent belongs to Kirloskars.

Meanwhile, the new Camry launched today will be available in both manual as well as automatic transmission versions.

It has a 2.4-litre engine and advanced features such as Plasmacluster air conditioner for providing enhanced driving comfort, a multifunctional steering, enhanced seat sliding space, antilock breaking system, vehicle stability control system, which prevents lateral skidding and provides stability at all speeds.

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