Hiroyuki Fukui, chief executive officer for the Asia, Middle East & North Africa regions at Toyota Motor, said the car maker will focus more on India and introduce vehicles to meet requirements of local consumers.
The decision comes weeks after the Supreme Court verdict lifting the ban on sale of diesel cars above 2000 cc in Delhi and the National Capital Region (NCR), which encompasses neighbour states like Haryana and Rajasthan.
The ban cost Toyota an estimated INR1,700 crore (US$ 254 million) in revenues from sales of about 8,500 vehicles. The Delhi-NCR accounts for seven to eight percent of sales of the car maker’s total sales in the country.
Toyota, which has two facilities in Karnataka with combined capacity of 310,000 units per annum, is using 55 percent of available production, and foresees an increase in production following the Supreme Court decision.
APMEN News, Oct 2016
