The world's largest automobile manufacturer Toyota Motor Corporation on Monday decided to resume full production at its twin-car factories in India from May 20, a fortnight ahead of the schedule after the troubled car maker had decided to cut its production by 70% in the wake of parts shortage arising out of the March 11 earthquake and tsunami in Japan.
India is the first market where the company has decided to resume full production ahead of much bigger markets such as China, US and even Japan.
Few days back, Toyota announced a similar adavancment of the full production in Thailand as well, but it will not happen before May 23.
Buoyed by the decision, Toyota's Indian subsidiary - Toyota Kirlosakar Motors said it will try to meet the target of producing and selling 1,40,000 vehicles in India, a target that was set at the beginning of the year. Further, the advancement meant the launch of its maiden small car Etios Liva also remained on track by the end of next month.
"According to our estimates, we would lose around 8,500-9,000 vehicles but will try to make up for it in the rest of the year," said Sandeep Singh, deputy managing director (marketing and sales), Toyota Kirloskar Motor India. "The launch of our small car Liva remains on track and we are fortunate that India is one of the first markets to resume full production... shows the importance India has for Toyota globally."