Toyota Kirloskar eyeing 50% market share in SUV category

Toyota Kirloskar eyeing 50% market share in SUV categoryLeading automaker, Toyota Kirloskar Motor expects to capture 50 per cent market share in the mid-sized Sports Utility Vehicles (SUV) category by the year end, supported by its Fortuner range, with a price tag of close to Rs 18.5 lakh.

Toyota Kirloskar DGM, Mr Sanjay Gupta said: "The bookings for Fortuner have already crossed 2,500 and if we can sell 2,000 units till December, we can gain a share of 50 per cent in mid-size SUV market.''

Toyota Kirloskar, having worldwide presence, has already sold over 2.5 lakh units and expects huge response from people. The auto maker is making all efforts to deliver Fortuner by December, in a bid to cross its target of capturing 50 per market share.

Mr Gupta said: "The SUV market in India has witnessed extensive growth with launches in mid and premium SUV segment. We expect that the launch of the Fo rtuner will expand the mid SUV market in India.''

The Fortuner has received huge global response till now, and it competes with rivals like Ford Endeavour, Honda CRV and Mitsubishi Outlander, in the highly competitive mid-sized SUV market.