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May 29, 2001
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Money > Business Headlines > Report May 29, 2001 |
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Toyota Qualis set to beat May targetNetScribes/Mahesh Shetty Bangalore-based Toyota Kirloskar Motors is on a roll. The company is all set to beat the May sales target of 2,550 units of its fast selling multi-utility, the Qualis. The company expects to reach the 2,600 mark by the close of the month -- a 65 per cent growth over the 1,578 units it sold in May last year -- mainly on the back of higher sales in the southern states. The South has emerged as a stronger market than the traditionally large-volume northern states, which took a hit after local sales tax rates were rationalised last year. A strike at one of TKM's suppliers -- Kirloskar Systems -- had earlier disrupted production schedules and the company sold only around 1,800 units in April against the month's target of 2,400 units. The strike lasted for a week and affected component deliveries to TKM's main plant near Bangalore. Kirloskar Systems supplies TKM with the differential assembly that goes into the rear axle of the Qualis. Despite the strike, the company recorded positive growth over last year. April's 1,800 units were almost 55 per cent higher than the 1,167 units it sold in the same month last year. The Qualis captured 35 per cent of the UV market within a year of its launch at Delhi's Auto Expo in January 2000. The car has so far sold over 29,000 units with more than 21,000 units sold in calendar 2000. The company's plant at Bidadi, 35-40 km from Bangalore, has the capacity to make 90-100 cars a day. The company closed calendar year 2000 with sales of over 21,000 units after the Qualis' January 2000 debut. TKM is reportedly looking to bring its Camry and Prado models to India now that manufacturers see potential in the growing super premium segment in the Rs 1-2 million range. So far, Honda and Hyundai have announced intentions to bring in the Accord and Sonata, respectively, before the end of this calendar year. |
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