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Our Bureau

Coimbatore , Jan. 8

Toyota Kirloskar Motor Pvt Ltd, which has come out with a limited edition of Innova, hopes to create a passion for the model and help increase the market share of the company in the Rs 5 lakh-Rs 12 lakh passenger car segment from 7 per cent to 12 per cent.

The company, which is stated to be eyeing the small car segment to push up sales volume and is stated to be looking for a site to locate a new plant, is yet to take any decision in this regard.

Speaking to newsmen in Coimbatore recently, Mr Sailesh Shetty, Deputy General Manager, Zonal Office-South, Sales Operation Division, TKM, Bangalore, said the company intended to sell only 1,000 vehicles of the Limited Edition Innova during Jan-March 2007.

Since its launch in 2005, around 68,500 Innovas have been sold across the country. The vehicle offering the features of a MPV and a luxury Sedan, had cornered 31 per cent market share in the MPV segment.

He said the Limited Edition Innova model provided superior exteriors and interiors and the diesel vehicle came with power windows and door locks. The G1 Limited Edition would cost on road at Coimbatore around Rs 9.10 lakh. The Innova, depending on the variant, carries an on road (at Coimbatore) price tag of Rs 8.40 lakh to Rs 11.43 lakh.

Explaining the reasons for the launch of the Limited Edition Innova, he said a large chunk of the sales of Innova was taking place at the higher end of the product segment. The company wanted to create a passion for Innova among the customers and it was targeted at younger buyers in business and in profession. The idea was to take the number of Innovas sold every month to 4,000 units during this year.

Asked about the persistent media reports about the entry of Toyota into small car segment, Mr Shetty said the company was still studying the market and it was yet to take a decision. When pointed out that the growing mid-segment market was likely to see a flurry of activity this year with a slew of launches that might make market penetration for Toyota difficult if it delayed its decision, he was confident of the company coming up with an appropriate product once a decision was taken.

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