Toyota accelerates India expansion with new SUVs and rural push
Japanese automaker Toyota plans to launch 15 new and refreshed models in India by 2030 while deepening its rural network, as record profits make India a key growth market.
The lineup will include two new SUVs aimed at top competitors like Mahindra and Hyundai, plus an affordable pickup truck for rural buyers. Toyota is also introducing lean-format dealerships with fewer cars on display and smaller workshops in small towns to expand its footprint, News.Az reports, citing Reuters.
Toyota’s Indian unit, Toyota Kirloskar Motor, recorded a record $640 million profit last fiscal year, largely due to its alliance with Suzuki. India is now Toyota’s third-largest market outside Japan, with over 300,000 vehicles sold last year.
The company’s $3 billion investment will expand its southern factory and build a new plant in western Maharashtra, producing hybrids and electric vehicles for India and exports.
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