Honda, Toyota join the small car race in India

07 September 2006

Mumbai: Honda Motors and Toyota Kirloskar have announced plans to launch small car in India.

Toyota Kirloskar Motors plans to bring a small car in the next two or three years as a part of its strategy to grab 10 per cent of the Indian automobile market by 2010.

"We still maintain the target of grabbing 10 per cent of the Indian automobile market by 2010, in which the small car will form a major chunk," Toyota Kirloskar Motors managing director Atsushi Toyoshima said on the sidelines of the SIAM summit.

"In the next two to three years we will bring a small car in India but as of now we have not finalised the plan," he said.

He, however, said, "We still haven''t finalised the location and the investment."

Honda Motors, meanwhile, said it was looking at bringing in a small car in the Indian market for expanding its product portfolio. Honda said it would set up a second plant in India, which could involve an investment of $200 million over a period of five years.