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Toyota To Expand Second Plant In Karnataka
Toyota will invest Rs.215 crore to facilitate the capacity expansion. The project is expected to be completed by the second quarter of next year according to Mr Shetty. He was speaking about Toyota Kirloskar's plans during the launch of the Etios Liva in Kolkota.
Toyota has already sold 21,000 units of the Etios sedan. Following the launch of the Etios Liva hatchback, the carmaker has received more than a thousand bookings. Toyota is expecting to sell 60,000 units of the Etios and Etios Liva. Further the carmaker also intends to expand its dealer network from the current 150 to about 175.
This is the first time Toyota has entered the hugely competitive volume car segment in India with the Etios Liva. By pricing the Liva at Rs.3.99 lakhs, Toyota has directly challenged established cars such as the Maruti Suzuki Swift and Hyundai i10. The Liva has been welcomed by the Indian consumer due to Toyota's reputation of building highly reliable vehicles.
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