It is an important day for Toyota today. The company is going to launch its first small car in Bangalore which Toyota has marketed as “World’s First, India’s First”. Toyota has been slow in picking up in Indian car market, due to its focus on the higher segment of cars, but it is now one of the few companies that did not delay its plans for Indian-built car even during the worst economic crisis.
Toyota President Akida Toyoda, 54, will debut the car today in Bangalore, the first time he’s attended an overseas car presentation as chief executive, clearly indicating the importance of the Etios’ launch. He has serious plans to jump up pedestals in Indian car market as Toyota still lies at the seventh rung in the sales ladder. India is the world’s second largest growing car market which has made every car maker take a serious note of their erstwhile positions in the domestic market and lay their fresh strategies to boost sales.
Toyota currently has 2.8 percent market share and has serious plans to change the same in coming months. “India is a tough market to break through for a late comer like Toyota,” said Yoshihiro Okumura, who helps manage investments of $365 million at Chiba-Gin Asset Management Co. in Tokyo. “The critical strategy from here is how it plans to boost sales and set up dealers.
Toyota is going to launch its new sedan model Toyota Etios today which is rumoured to be priced at Rs. 5.25 lakh and above. The final price and detailed specifications of the same will be available at the time of official launch.
Cartrade.com will be attending the launch of the Toyota Etios. Tune in later today for pictures from the launch.
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