Toyota lifts India investment freeze; to release more cars

Toyota will introduce more cars and ramp up volumes in the world’s fifth most significant vehicle market, reversing an earlier choice to freeze investment after the Supreme Court lifted a 8 month ban on sale of big diesel automobiles in Delhi.

Hiroyuki Fukui, chief executive for Asia, Middle East & North Africa region at Toyota Motor Corporation (TMC), stated the company will focus more on India and present automobiles to meet requirements of local consumers.

The restriction cost Toyota an approximated Rs 1,700 crore ($255 million) in earnings from sales of about 8,500 vehicles. Delhi-NCR represent 7-8% of sales of the car maker’s overall sales in the country. Vikram Kirloskar, vice chairman of Toyota Kirloskar Motor, informed early this month Toyota will hold back the launch of its Lexus and Daihatsu brands in India, and that it will not make fresh investments till regulatory uncertainty is cleared.