Toyota Kirloskar Motor reported a record profit of around $640 million in the last fiscal year, powered by strong demand for the Innova Hycross and Urban Cruiser Hyryder hybrids, both of which helped Toyota carve a niche in the alternative-fuel space.
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Check Offers Toyota is preparing for its most ambitious phase in India. Shifting gears after years of measured steps, the Japanese carmaker plans to introduce 15 new and refreshed models by the end of this decade on the back of new investments, fresh showrooms, and a sharper focus on rural India.
The plan underlines how central India has become for global carmakers, especially as markets like China turn increasingly competitive. For Toyota, it’s also about independence, moving beyond badge-engineered models shared with Suzuki and building a more distinct identity for itself in one of the world’s fastest-growing auto markets.
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Riding on record profits
Toyota Kirloskar Motor, the carmaker’s local arm, has been in high gear. It reported a record profit of around $640 million in the last fiscal year, powered by strong demand for the Innova Hycross and Urban Cruiser Hyryder hybrids, both of which helped Toyota carve a niche in the alternative-fuel space.
Now, Toyota wants to build on that success. The company aims to lift its passenger-vehicle market share to 10 per cent by 2030 from roughly 8 per cent today. It’s a bold ambition in a market dominated by Maruti Suzuki and Hyundai Motor, but one that Toyota believes is within reach.
New plants, new models
To make that happen, Toyota has earmarked over $3 billion for capacity expansion. Part of that will go into its existing facility near Bidadi in Karnataka, while a new plant in Maharashtra is being prepared to roll out the next generation of models.
Between both sites, Toyota’s total production capacity could soon cross one million vehicles a year. The new line-up will include Toyota-developed SUVs, models sourced from Suzuki, and multiple facelifts of existing cars.
At least two all-new SUVs are on the cards, aimed at taking on Mahindra, Hyundai and Tata in the fiercely competitive mid- and premium-SUV segments. There’s also talk of an affordable pickup truck, positioned below the Hilux, designed to appeal to buyers in semi-urban and rural markets where utility often meets lifestyle.
The first product from the new plant is expected to be an SUV offered with petrol, hybrid and possibly electric powertrains, a sign of Toyota’s gradual but steady move towards electrification in India.
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Reaching beyond metros
Alongside new products, Toyota is also redrawing its retail map. The company is piloting lean-format dealerships in smaller towns, compact outlets with just one or two display cars, supported by two-bay service workshops to ensure easier maintenance access.
The idea is simple: keep costs low, improve reach, and meet customers closer to where they are. It’s a dual-pronged strategy, chase premium buyers with feature-rich SUVs while expanding steadily in India’s smaller towns.
Looking ahead
Toyota hasn’t commented officially on these plans, but the intent is clear. India, already its third-largest market after the US and China, is being treated as a pillar for growth rather than a satellite market.
If all goes as planned, the Toyota of 2030 will look very different from the Toyota of today, more local, more diverse, and far more present across India’s cities, towns and highways. For Indian buyers, that means more choice, more hybrid options, and perhaps, a new kind of Toyota story on the road ahead.
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First Published Date: 03 Nov 2025, 09:32 am IST
