The parent Japanese firm of Toyota called Toyota Motor has plans to force newer products to compete with SUV’s that are expanding at a rapid pace. The main goal here is to expand its portfolio in Indian soil to new levels. Toyota Motor announced that India is not vested with visible policies with respect to import taxes and fuel regulations. The company is however forcing a new scheme of wait and watch plan before zeroing on new segments of diesel models in India, and also to manufacture newer makes of hybrid models. Top officials of the company are of the view that there is a requirement for huge volumes in fast paced car environment markets such as India, at present; there is only one small make of Liva to bear the brunt of acquiring significant sale outputs.
Although officials did not display information on future prospects, the main scheme here is to discover models that can compete with a range of stiff competitors in India. On a global scale, the SUV category is reigning in Indian and other international markets. Company officials have announced that new products will be manufactured to cater to the modern demands of the Indian demographic. The development of Etios is mainly for the Indian segment, said a company official, the Indian population is attentive of the knowhow’s of the functioning of the luxurious makes in the international arena. Our main goal is to satisfy Indian needs and demands to the core.
On Toyota’s future aim for the Indian market, the Vice President of Toyota Motor Asia Executive, Bernie O’Connor stated, ‘’the main plan is the recreation of the international reputation in India; we have a robust position in Asian markets that extends to Philippines and Indonesia as well. Our main goal is to acquire the most established brand in the Indian segment in the near future.’’
The company at the moment is viewing strong Government regulations before implementing on important decisions such as an establishment of diesel engine. Officials claim that there is a requirement of diesel plants for Indian markets; the main set back is the unclear policies which is impacting the strong collaborations with the parent firm.
Toyota cars are extremely popular in India, with the Innova and Corolla Altis contributing heaps of profits to the company. Another spectacular seller is the Prius, which is also the sole hybrid car that is built in India.
The aim of the parent Japanese firm to invent and introduce more models to compete with the cut-throat competition that prevails in the Sport Utility Segment is a profitable move to cater to the growing modern demands in India. In India, the crave and buying power for luxury cars is on the rise, but the main hurdle here is the unclear fuel policies imposed by the Indian government, let’s hope the policies formulated by the Government are clear and more effective which can be a turning point to enhance the car economy segment in India.
It would be interesting to witness a more significant range of Toyota models in India.
Tagged: Toyota Rush