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Toyota India car models will become cheaper in price in the not-too-distant future. The news was confirmed by the newly-appointed Managing Director of Toyota Kirloskar Motor, Masakazu Yoshimura. The Japanese automotive brand aims to promote electric/hybrids cars in the country as well.
Masakazhu told ET Auto that India is a highly competitive market when it comes to automobiles and is somewhat similar to that of Europe, with all the state-wise tax variations and other regulations. He also shared that the rules and regulations in the country always tend to change without proper notice. Hence, the company has to carefully plan their strategies and product development.
Currently, Toyota India is not a mass volume seller since their line-up mostly consists of cars costing above Rs 10 lakh. The company has already started considering products for the sub-10-lakh vehicle segment by joining hands with Maruti Suzuki. As an advancement to this, they will be launching a new hatchback based on the Maruti Baleno — here's what you should know about the 'Toyota Baleno'.
Furthermore, the Toyota-Maruti Suzuki partnership promises affordable and desirable hybrid products across a wide price range. Under the partnership, Maruti Suzuki can explore more in the premium vehicle segment while Toyota can make their debut among the popular budget segment. Toyota recently launched the all-new Toyota Camry Hybrid in the premium segment.
Masakazu shared that 70 per cent of the cars sold in India cost less than Rs 10 lakh and are mostly bought by young customers. For the same reason, Toyota is bound to deliver what a young customer would want and need, or more, within the said price bracket. This will help them gain popularity faster among the wider Indian mass.
Regarding EVs (Electric Vehicles), the company is currently developing one outside India. If the country can provide enough supporting infrastructure, Toyota will definitely launch the EV in India. At this point, hybrids are the best choice.
Thoughts On Toyota Cars Becoming Cheaper Soon
With just the Etios sedan and Etios Liva hatchback in the affordable car segment, Toyota India occupies just a small space in the country's automotive market. With more cars coming in the price range, we can expect the Japanese automaker to be a popular choice among the average Indian, and a strong rival to Maruti Suzuki, Hyundai and Tata Motors.