Toyota mulls new sedan priced between Rs8-10 lakh
As per the recent speculations it is said that that Toyota India is planning to launch a sedan to brifge the gap between Toyota Etios and Toyota Corolla. Hiroshi Nakagawa, managing director, Toyota Kirloskar said that they are planning to launch a new sedan between Toyota Corolla Altis and Toyota Etios. The company at present is looking for the ambit of this new car in the market. The launch of this car will be decided according to the the antecedence.
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Company's officials in another report said that there are no plans for the launch of new cars at this time. They also said that their main focus would be on the Toyota Etios and Toyota Etios Liva alomg with the other models existing in the market.Mitul Shah, an auto analyst at First Global said that there could be the possibility of launch of new car in the market priced between 8-10 lakh. The company's major aim to launch this car would be to compete the existing Maruti SX4, Honda City and Hyundai Verna. He also added that the launch of this new car will be give Toyota an advantage over the other cars present in the market and help the company to make its grip firm over the sedan market.
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At present the the company has Toyota Etios,Toyota Etios price ranges between Rs. 4.99 lakh and Rs 6.93 lakh (ex-showroom Mumbai) and Toyota Corolla Altis is priced between Rs 10.47 lakh to Rs 14.68 lakh (ex-showroom Mumbai), and no car of the company is there between this price band.
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The mid-sized sedan market is among the largest growing segment in India. The sales figure in this segment had reached to 25,600 cars, which is grown by 4% in April- May 2011. This segment is expected to see a growth of about 10-12%, if it doesn't get affected with the slowdown.At present Toyota has Toyota Camry, Toyota Fortuner, Toyota Corolla Altis, Toyota Etios, Toyota Etios Liva, Toyota Innova, Toyota Prius, Toyota Land Cruiser and Toyota Land Cruiser Prado.
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