MAM
Toyota Kirloskar Motor announces ‘1 lakh celebration’ campaign
MUMBAI: Automobile major Toyota Kirloskar Motor (TKM) has crossed the 100,000 vehicle production milestone in India. The automobile manufacturer has announced the launch of a special limited edition Qualis with enhanced features to commemorate the occasion. The company will embark upon a month-long multimedia campaign between 15 September to 15 October 2003.
At a press conference held in Mumbai’s suburban hotel JW Marriott, TKM managing director Atsushi Toyoshima proudly announced that the joint venture company has rolled out its 100,000th domestically produced vehicle within three years of its launch in India.
“At present, we produce and sell around 45,000 vehicles per annum and expect to cross the 200,000-mark within two years. We might considering launching a large-volume small car in the near future but the present focus will be on the Qualis, Corolla and Camry,” adds Toyoshima. He also claims that the JV company currently employs 2,300 employees as compared to 850 in 2000.
Starting today, TKM will launch a special ad campaign for selling 1,000 units of the special limited 8-seater Qualis FS edition that will cost Rs 632,310 (ex showroom; L3 model without EGR) and Rs 655,320 (ex showroom L4 with EGR). A press release states that the Qualis FS limited edition comes with a sleek new full-body stripe to add a touch of style; imposing front grill guard for a powerful front profile; silver metallic dashboard panelling; high mount stop lamp; imported sunshades amongst others.
While unveiling the Qualis FS, TKM vice chairman Vikram Kirloskar stated: “Customer-focus and quality are the two pillars on which our success story rests on. Our company still conducts extensive market research programmes.”
When questioned about the growth in the automobile industry, Kirloskar says: “The reductions in the excise duties announced during Budget 2003-04 and good monsoons have fuelled growth in the automobile industry in India. In fact, the domestic auto industry has grown by 17 per cent. By 2010, the Indian market will touch volumes of 1.7 million units and TKM will be well-positioned to grab a sizeable chunk of the market. Globally, Toyota Motors has set a target of grabbing 15 per cent of the world automobile sales by 2010.”
TKM director marketing Satoshi Aoki adds: “We have sold 20,055 units of Qualis between January and August 2003 and has a 33 per cent market share of the multi-utility vehicle segment at present. The target is to touch the 34,000-mark in 2003 and grab 40 per cent of the multi-purpose vehicle (MPV) market.”
The recently launched Toyota Corolla (C segment) has clocked sales of 5,248 units between February and August 2003. The Camry, Toyota’s three-box sedan, launched in October 2002 has sold 812 units till date.
As part of its effort to pamper customers, the company has chalked out a month-long celebration plan for its existing and prospective customers nationally. “These would include exclusive entertainment shows featuring prominent artistes like Sonu Nigam and SP Balakrishnan, service camps special offers and exciting promotions,” adds TKM deputy managing director KK Swamy.
Looks as if the celebration has just started for Toyota owners.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
