Toyota Planning to Launch Compact SUV and More Small Cars in India
World's leading carmaker, Toyota Motor Corporation is planning to enter into the growing compact SUV segment and launch more small cars to gain market share in India, according to a report published in ET. However, the company is waiting for the right time before finalizing to set up a new diesel engine plant in the country or launching more hybrid cars due to the absence of unclear fuel and import tariff policy in India.
Speaking about the same, Toyota Motor Corporation Managing Officer Satoshi Ohiso said, "If you look at our portfolio in India, we have just one small car, Liva. We need more if we have to have big volumes in a fast growing market like India." Although he didn't share the exact details on the company's future line-up, he said that the company's focus is on the fast growing compact SUV segment.
"Globally, the compact SUV segment is getting more popular and in India it is also the same. We will definitely have our presence there," he said. Ogiso also said that Toyota will try to bring some global products as well, as the Indian market is changing now."We launched the Etios which was developed keeping the Indian market in mind. Today, the Indian customer is more aware of the international trends, they are discerning and our endeavor will be to satisfy them," he added.
Toyota Motors which is the global leader, expects the same to happen in India as well. Speaking about the company's long term ambition in India, Toyota Motor Asia Executive VP, Bernie O'Connor said, "Globally we are leaders, if you look in other Asian countries like Indonesia, the Philippines as well, we are leaders. Definitely, we have an ambition to be the number one in India as well in the long term." However, he didn't share a timeline for launching products, he said that Toyota is waiting for a clear cut govt policy before finalising its plans.
"In the long term, we need to have a diesel engine manufacturing plant in India but the lack of clear cut direction in auto fuel policy is something we need to watch out for. We need to see which way India is going," he said. The company which is known for manufacturing world class hybrid vehicles globally, also said that there is a need to understand import policies before finalising the plans to launch other hybrids in India. The Prius is the only hybrid vehicle that Toyota sells in India currently, which too isn't very popular. "We would have to see how things are (import tariff) before we decide to launch more hybrid vehicles. At the moment it is a very costly proposition to sell our hybrids in India," O'Connor said.
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