Toyota vehicle launch in Jan 2000

Come January 2000 and Toyota''s multi-purpose vehicle will be rolling on Indian roads. The vehicle, being made by Toyota''s joint venture in India, Toyota Kirloskar Motor, is touted as a combination of a multi-purpose vehicle, a family-type car and a passenger car. Toyota Kirloskar Motor managing director Sachio Yamazaki believes the vehicle will not disappoint the Indian motorist.

The vehicle is now undergoing trials and commercial production will begin sometime in December. The company intends to adopt the international practice of marketing the vehicle off-the-shelf, instead of using the booking method that Indian companies have preferred for long.

Mr Yamazaki says the vehicle will be released simultaneously in various centres. Some 1,000 vehicles will be available for sale initially on a first-come-first-served basis. If demand exceeds supply, the prospective customers will be put on a waiting list. However, no deposits or advance payments will be collected.

Toyota Kirloskar Motor is yet to chose a name for the vehicle. Mr Yamazaki promises the name to be interesting and acceptable to all sections of Indian people.

The company has appointed 24 dealers in 21 cities. It is also tying up with finance companies for financing schemes.

Toyota Kirloskar Motor is a joint venture between Toyota Motor Corporation and the Kirloskar group. At the time of its formation, Toyota Motor Company had a 74 per cent stake in the company. Later, Toyota was permitted by the Foreign Investments Promotion Board to increase its stake to 87 per cent and bring in Rs 78 crore. Toyota''s share in the Rs 600-crore equity of the company is Rs 522 crore.

Mr Yamazaki says Toyota is keen to have the Kirloskars as joint venture partners even though their stake has declined to 13 per cent.