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Toyota displayed its hybrid car Prius at the 18th International Engineering and Technology Fair (IETF) in Bangalore. The Hybrid car made its debut in 1997 and so far, the company has sold about one million units. The company also announced to roll out small car in India by the end of 2010.
While interacting with the media, the managing director of Toyota Kirloskar Motor, Hiroshi Nakagawa said that the Prius will be entirely a new variant in Indian. He said that the car can be launched in India only if the government extends the kind of tax concessions available in Europe and Japan.
Nakagawa also informed that Toyota Kirloskar is working on second plant in Bangalore and some of the additional capacity will be for the small car. Currently, the company has a capacity of 60,000-65,000 units and the second plant will add 70,000 units. Toyota Kirloskar is a joint venture between Toyota Motor Corporation and the Kirloskar group.
Commenting on the present auto market scenario, the officials Toyota Kirloskar feels that the market will improve by the second half of this year. According to Deputy Managing Director-Marketing, Sandeep Singh, company's sales gathered momentum from January after a dull December. The increase in sales indicates the gradual improvement of the market conditions.
