Toyota (NYSE:TM) will begin exporting cars from India starting in March 2012, with initial shipments of the Etios sedan and hatchback heading to South Africa.
Continue Reading Below
The Indian subsidiary, Toyota Kirloskar Motor Private, has been manufacturing vehicles for sale since 1999, however the South African exports will mark the first time the company has exported vehicles for sale outside of India.
The subsidiary will increase annual production to 310,000 vehicles from 160,000 starting in 2013 to meet the new demand in emerging markets.
“The start of vehicle exports from India represents an expansion beyond India's domestic market for TKM and a commitment by TMC to developing India into a global production and supply base for vehicles and transmissions,” Toyota said in a statement.
Toyota said the cars will be modified to better fit with South Africa’s local preferences and road conditions.