The car market in India has been on a slump in the past quarters, Toyota is hopeful that the economy will revive before festive season. Many established firms in the country have not met desired net sale outcomes, the main player is the unfavorable macro-economic scenario, fuel and commodity costs have risen to new heights.
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Toyota is of the firm view that domestic auto market conditions will improve before the end of the year, concentrated with festivals, an attractive medium to make tremendous profits. The general manager of Toyota Kirloskar Motor in sale operations sector, Rajiv Sharma said, ‘’the sector has been dim for a while, and sales did not pick up during the 2014 January to April period. We feel that the market will resuscitate before festive season.’’
Sharma believes that other auto players are confident about good monsoons, and a stable new Government, that will enable impressive domestic growth. He stressed on the fact that the auto sector has slowed down, and the major factors to blame are high interest rates, and exchange rate fluctuations. Sharma said that market deceleration is apparent in urban and countryside areas. The growth potential of Indian car market is not limited to new cars; the used car segment is expanding at a steady pace.
The second hand car market is a 2.5 million industry, in the earlier 2013 to 2014 Financial Year; the growth rate was 15%. Sources are positive of double digit growth volumes in current fiscal. The used car segment is filled with young buyers, who are keen on more cost-effective products.
In 2013 the used car market grew at a more rapid pace than new car segment in India. The trend is common with developed nations, where second hand car market is five times bigger than new car sector. Toyota has two new cars this year, Etios Cross and new Corolla Altis.
Etios Cross is a recent launch and introduced an initial price of Rs 5.76 lakhs, the new Cross is a Cross variant of Etios Liva. The car is sold in three engine options, a diesel and two petrol power trains. The diesel car moves on robust DOHC 1.5 liter engine that produces 59KW and 6KW. The petrol car is fitted with 1.2 liter engine.
A feature to watch out for which highlights the Cross nature of the car is the plastic cladding. The other signature features are roof rails and silver finished bull bar. The car has 10 spoke alloy wheels and stylish front grille.
The insides are garnished with premium piano black finish, a world class 2 Din music system with Aux-in, USB and Bluetooth connectivity, audio fitted steering wheels, tachometer and chilled glove box. The car is engineered with adequate safety features with dual front SRS airbags; electronic brake force distribution and anti lock brake system.
The new Corolla Altis will launch on the 27th of May and is more aesthetic and bigger than the earlier model. The new Etios Cross and Corolla Altis has the potential to thrill the crowd. There are new potent models launched that might enable the economy to recuperate, like Maruti Suzuki Celerio, Hyundai Xcent, new Hyundai Santa Fe and 2014 Honda City.
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