Toyota Indus Motor Company (IMC) is one of the largest automakers in the country at the moment that produces about 276 units of their flagship vehicle (i.e. the Toyota Corolla) daily. At present, the company assembles cars on a single shift schedule basis, which would be bumped up to 66,000 units annually, once the double shift schedule is adopted in September.
However, that figure would grow further as the company reported that they will be increasing the annual production of cars to 80,000 units. The company sights the reason being the rising demand for the vehicles following the easing of COVID-19 induced lockdowns. Reports say that the goal is also to reduce the current delivery/lead time on all models being made and sold by the firm.
Topline Research analyst Hammad Akram reported that management at Toyota IMC foresees the total market size of vehicle sales to expand up to 185,000 units during the financial year (FY) 2020-21. He said the production figure might even go up to 200,000 units given the current demand and supply dynamics of the market.
Regarding the car sales strategy following the introduction of the all-new Toyota Yaris, Akram told the media, “Going forward, the management expects that there will be no case of cannibalization between its different variants of Yaris and Corolla as both are different segment cars”.
He further reported that the initial demand for the Yaris after its launch has been overwhelmingly positive as per the company officials, adding that the company sees Yaris as one of their key products in enhancing their productions and sales going forward.