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Toyota India is currently building a new small car and will be launched by December 2010. The small car from Toyota would be powered with 1.2-Litre and 1.3-Litre engine and will come in both petrol and diesel versions, according to an official of Toyota Kirloskar Motors, the joint venture between Toyota, the world’s largest automaker and the Kirloskar group. The compact car will be available in both sedan and hatchback.

“The new strategic small-vehicle project has reached half-way in its development. We will launch it in 22 months,” said TKM’s managing director, Hiroshi Nagakawa. He said this on the basis of his trip to Japan last week for an update on the project. This is Toyota’s only global project which is on track in the wake of the worldwide economic downturn.

“The market condition for Toyota India is tough. Our sales have dropped by 50% and we had to cut production by 30% due to an inventory pile up. But we have managed the inventory problem from November to January and are now producing 3000 vehicles per month. The production volume will be increased step by step in February, March and April,” Mr Nagakawa said. Though the focus of the compact car is mainly the Indian market, it will also be exported to other countries if it succeeds here.

“The first phase of the second plant will produce 70,000 vehicles annually, reaching a final production capacity of 200,000 vehicles per annum. At this moment, this plant will be used for the small car project. But it is a flexible plant where we can produce five types of vehicles,” said Mr Nagakawa. TKM will double its dealership from the existing 82 dealers, in next two years to push the small car.

On the CNG variant of the Innova, Mr Nagakawa said, “The vehicle has already been developed. It is being tested and will be launched as soon as possible.”

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