Toyota Motor launches SUV Fortuner in New Delhi

New Delhi: Toyota Kirloskar Motor (TKM) on Monday launched its sports utility vehicle Fortuner, priced at Rs 18.45 lakh (ex-showroom, Delhi).

It comes with a 3.0 litre diesel engine. The automaker expects to sell over 2,000 units of the SUV in 2009.

In the picture above, media personnel are seen near the newly launched Toyota Fortuner at an event in New Delhi on August 24, 2009. Toyota Fortuner is a 3.0 liter diesel SUV and will be available at a price of Rupees 1,845,000.

It aims to capture 50 per cent share of the mid-SUV market. The Indian premium and mid-category SUV market was estimated at 12,000 units in 2008. During the first six months of this year, about 3,800 units were sold and TKM is hoping that 5,000 units would be sold in the second half.

Asked about the company's sales target for this year, TKM Managing Director Hiroshi Nakagawa said, "Last year, we sold 51,800 units and in the first seven months of this year, we sold 25,910 units. Our target for this year is 52,000 units."

A newly launched Toyota Fortuner is seen at an event in New Delhi

Nakagawa also said that on the back of its proposed small car and other launches, the company is expecting to capture a 10 per cent share of the Indian passenger car market by 2015.

The size of the Indian passenger car market was estimated at over 12,00,000 units in 2008-09 and is expected to grow by 5 per cent this fiscal.

Toyota Motor Corp. Senior Managing Director Akira Okabe, second right, gestures as he poses near the newly launched Toyota Fortuner along with Toyota Kirloskar Motors Managing Director Hiroshi Nakagawa, second left and Toyota Kirloskar Motors Vice Chairman Vikram Kirloskar, right, in New Delhi on Monday, August 24, 2009.

He said the company would launch the small car from its new plant in Bangalore which has initial annual production capacity of 70,000 units and is eying to sell them all within the first year.

The compact car would have a 30 per cent localisation of components initially.

Television cameramen film the newly launched Toyota's "Fortuner" SUV segment car in New Delhi.

The new plant's production capacity could be expanded up to two lakh units.