Bangalore-based Toyota Kirloskar Motor company is studying the Indian market for the launch of its international best selling hybrid car, the Prius, in India.
“It’s easy for Toyota to import a limited number of Prius as CBUs into the country and sell it. It will do a whole lot good for the company’s image. But without the neccessary infrastructure in place like charging stations that could charge these cars on highways, it will be difficult for Toyota to consider launching the Prius. But we are studying the market,”says Sandeep Singh, Deputy Managing Director (Marketing) of Toyota Kirloskar Motor.
Toyota’s Prius is the best selling hybrid car in the US. Toyota, North America, hopes to sell about 2 lakh Prius in the US this year.
India’s first hybrid car - the Honda’s Civic Hyrbrid, launched in June this year and costing double the price of a petrol variant, has sold nearly 60 units within the first three months of hitting the Indian markets. Almost everyone who bought these hybrids, according to the company, are well travelled young professionals passionate both about technology and saving the planet. Hybrids currently attract an import duty of about 104 per cent.
At the launch of 10th generation Corolla - the Corollar Altis, the company said it would launch its compact car by the end of 2010. Toyota, which began its operations in the country 10 years ago, is ready to roll out new models in the country to catch up with the other Japanese auto companies like Honda and Maruti Suzuki.
“The last 10 years we’ve learnt our lessons. Now we are ready to jump start our business in the country. We’ll increase our product line up,” says Hiroshi Nakagawa, MD, Toyota Kirloskar.
Industry analysts say earlier Toyota had problems with component suppliers and establishing dealer networks.
Toyota which sold about 53,000 units in 2007 hopes to sell about 63,000 in 2008. Aided by the launch of new models, it hopes to gain a market share of about 10 per cent by 2015. Despite high interest rates and inflation causing slackening sales, the company is bullish about India for its auto sales in the future.
“In 10 years time India will become the largest auto market in the world with an annual sale volume of more than 4 million vehicles.
Therefore, India is an important market for us,” says Nakagawa.
The new Corolla Altis comes in three variants. The 1.8 GT manual is priced at Rs 10.83 lakhs, the 1.8GL manual at Rs12.09 lakhs, and the top end 1.8 VL auto at Rs 12.86 lakhs.
Like the Volkswagen’s Jetta, in the American market the Toyota Corolla is considered entry level car and gifted to students entering college. While the same Corolla in India is pegged on a luxury platform.
