Monday, July 26, 2010

Toyota to Launch compact car Etios in India in December 2010

Toyota is going to launch Etios in India to compete in the compact car segment market. Sandeep Singh, deputy managing director (marketing) at Toyota Kirloskar Motor gave this information while talking to Economic Times. The company had decent success with Fortuner in SUV market segment and now, it wants to target the attractive compact car segment.
India has one of the fastest growing auto markets in the world. Car ownership is still limited to mainly rich and higher middle class income groups. There is a flourishing middle class and that is why, there is a huge demand of compact cars. The main players in the auto market of the country are Maruti, Hyundai and Tata Motors.
Toyota is aiming to change this and get a significant market share. So, the introduction of Etios is perhaps a move in that direction.
Mr. Singh said to Economic Times, "It would be game changer for us. We are not in a hurry to gain market share or volumes, but like all our products we would expect Etios to be a harbinger of change in India and make us segment leader. Besides catapulting Toyota Kirloskar Motor into a big car player, our volumes would increase manifolds. Next year, of the total expected sales of 1.5 lakh units, Etios are expected to be around 67,000 units."

Of course, the compact car market in India is very competitive at the moment. It will be a difficult task for Toyota to change the scenario. 

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