Toyota Kirloskar Motor (TKM), the joint venture between Japanese carmaker Toyota and India's Kirloskar group has stopped production of its premium sedan Corolla Altis from this month.
According to reports, the company is planning to roll out a new version of Altis in next 4 to 5 months. This new model will be showcased during the upcoming Auto Expo in New Delhi next month.
While talking on this topic, a company spokesperson said, "The company has stopped the production of the Corolla Altis from January. It is now preparing to launch a new version, which has already been rolled out in many countries."
"The company will first showcase new Corolla Altis at the upcoming Auto Expo in the National Capital. The commercial launch of the model is likely to take place around May-June," he added.
Total sales of Corolla, since its 2003 debut in Indian market
The new Corolla Altis is likely to be powered by the same 1.8 litre petrol with some added features. While the diesel variant is likely to be more powerful than the existing 1.4 litre mill.
The new version will be produced at TKM's second plant in Bangalore which has a capacity of producing 2.1 lakh units per year.
In the period of April-December 2013, TKM sold 2,972 units of the Corolla Altis in the Indian market registering a downfall of 29.47 per cent as compared to the year-ago period.