The new compact SUV and compact sedan will be designed as per the local demand and product requirements, a strategy previously used for the Etios series as well.
Global leader in car sales, Toyota has had tough luck in the Indian market especially with sales in the mass market segment; while the Innova MPV continues to be its best selling product across the range. Nonetheless, the Japanese automaker is planning to fill in that void in its domestic lineup with completely new set of products. The Corolla maker is working on two new global products which include a compact sedan and a compact SUV that will be priced under the Rs. 10 lakh mark and will also be sold in markets overseas.
Senior members from Toyota have begun paying visits to India in a bid to understand the local demand and product requirements, a strategy the automaker had earlier adopted in order to develop the Etios hatchback and sedan (we all know how that worked). The new compact SUV will be a sub 4-metre unit and will compete against the Ford EcoSport that averages around 4400 units every month while also locking horns with a range of upcoming models including the Maruti YBA, Tata Nexon, Mahindra S101/S102, the compact SUV from Volkswagen as well as General Motors. All the offerings are still in the development stage and will be hitting the market starting the second half of this year.
The other new product from Toyota is a sub 4-metre sedan that will compete against the extremely popular Maruti DZire, Honda Amaze, Tata Zest, upcoming Ford Figo Aspire and the likes. The new compact sedan will be priced under the full-sized Etios sedan in the automaker’s lineup. With its new products, the company is planning to introduce the Toyota brand to more customers at a lower price point. Since the automaker has a strong product lineup in the Rs. 10+ lakh space with the Innova, Corolla, Fortuner and the likes, the new products will help the company retain customers for life.
People buying the compact SUV today will get a chance to upgrade to the Toyota Innova or a Fortuner in the future while those opting for the compact sedan will have the Etios sedan or even better, the Corolla and the Camry to look forward to, stated the company. Most importantly, the new products will be based on global platforms and won’t be India specific vehicles. With an average development time for a product being four to five years, expect to see the new models hit the production line by the end of this decade.
Source – Business-Standard.com