Betting big on its yet to be launched compact car Etios,the world's largest carmaker

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Toyota today said it expects more than half of its overall sales in India during the next year to come from the new model.

The company, which is present in India through a joint venture with the Kirloskar Group -- Toyota Kirloskar Motor -- will be launching the car by December this year.

"Next year, the total sales of the company will be 1,50,000 units, out of which we expect the Etios to be around 67,000 units," Toyota Kirloskar Motor (TKM) Deputy Managing Director (Marketing) Sandeep Singh told reporters here.

In the first year, the company is expected to produce 70,000 units of Etios.

TKM, which today launched the diesel version of its premium sedan Corolla Altis at Rs 10.95 lakh-Rs 13.75 lakh (ex-showroom Delhi), said it expects to sell a total of 15,000 units from the entire Corolla Altis range in 2011. The sedan is also available in petrol and CNG options.

Singh said the company expects to sell a total of 70,000 units this year, as against 55,497 units last year.

Asked if the Etios will also have a diesel engine, he said: "It will be launched with the petrol engine only, but we are conducting a market study on the diesel option and we are seriously considering that option as well."

On the cost cutting plans that the firm undertook to bring down the investment from the announced Rs 3,200 crore to set up the second plant in Bangalore, TKM Managing Director Hiroshi Nakagawa said the figure will remain unchanged.

"Our budget of Rs 3,200 crore has not changed. There are many fluctuating aspects. Material prices have gone up, prices of petrol and diesel have increased," he said.

In the past, when the company decided to invest on the new plant for production of Etios, TKM had maintained that it would try to bring down the investment by adopting various cost efficient measures.

The plant will start production by this year with an initial capacity of 70,000 units annually.

On the possibility of launching a smaller car than the Etios to offer more models in the lucrative Indian small car market, Singh said: "We have no plans for a smaller car than the Etios."

On the sports utility vehicle Fortuner, he said the company has got 2,500 more orders since booking was reopened from this month.

"The total delivery pending is 6,500 units. Once it reaches 7,000 units, we will stop taking orders again," Singh said.

The company had put a hold on the bookings from January 31, 2010, because of a huge backlog of orders. Since its launch, over 8,500 units of the Fortuner have been sold.