Toyota, world's largest car manufacturer, on Monday announced that the company is looking to treble its sales in the Indian market by 2012, with plans to launch a small car by next year in Indian market.

Mr. Akira Okabe, Senior MD, Toyota Motor Corporation, stated that they hope that between 3 to 4 years, the company will manage to raise its sales in India by three-fold. The small car will be an element in the growth in future. He also added that the small car will strike the Indian roads by next year.

The company, which is present in India through a joint venture with the Kirloskar Group, is expecting sales to be almost flat this fiscal due to economic slowdown and lower demand.

The investment plan of Rs 3,200 crore for establishing the second facility to manufacture the small car is on schedule.

In the last fiscal, around 15,51,880 passenger vehicles were sold, out of which only 46,892 vehicles are sold by Toyota.