Amidst growing demand and extended waiting periods for certain products, Japanese auto major Toyota is reportedly considering the establishment of a third manufacturing plant in India. Currently, Toyota Kirloskar Motor, a joint venture between Toyota Motor Company and Kirloskar Group, operates two plants in the country. These facilities are operating at nearly full capacity, with a total production capacity of approximately 342,000 units per year.
Although specific details regarding the production capacity, location, and investment for the new plant are unknown at this time, sources state that Toyota is actively exploring the possibility.
When contacted for comment, a spokesperson for TKM stated, “We would like to refrain from commenting on speculations and future plans.”
Earlier this year, in a move to meet the increased demand and reduce waiting periods, Toyota initiated a third shift at its plant near Bengaluru. This resulted in a 30% increase in production capacity for certain models, backed by an investment of over Rs 90 crore and the addition of 1,500 new employees.
TKM’s first plant, established in December 1999, currently produces models such as Innova Hycross, Innova Crysta, Fortuner, and Legender. It has an installed production capacity of 132,000 units per year.
The second plant, which began production in December 2010, has an installed capacity of 210,000 units per year and manufactures models including Camry Hybrid, Urban Cruiser Hyryder, and Hilux.
In addition to these plants, Toyota also collaborates with Maruti Suzuki India to sell models like Glanza and Rumion. The company imports models such as Vellfire and LC 300 as completely built-up units (CBU).
This year, TKM has experienced a significant increase in demand for its models. Sales in the January to August period saw a growth of 34% compared to the same period last year, totaling 147,192 units. The surge in demand has led to waiting periods exceeding one year for some of the company’s products.
To manage customer inconvenience caused by long waiting times, Toyota announced a temporary halt in bookings for the E-CNG option of the Rumion MPV on September 23. Earlier this year, the company temporarily suspended bookings for top trims of the Innova Hycross due to supply challenges. In addition, last year, orders for the diesel variant of Innova Crysta were temporarily stopped due to high demand and extended waiting periods.
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