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Toyota said it will roll out a number of new compact cars priced around $12,500 (Rs 6.92 lakh) in developing nations, targeting sales of more than one million of the models annually in emerging markets by 2015.
Japan's biggest automaker said it would make eight new cars at plants in Thailand, Indonesia, India and Brazil, priced at about 1.0 million yen ($12,500) or more. "We don't sell cars priced at 500,000 yen (Rs 3.48 lakh)," Toyota executive vice-president Yukitoshi Funo told reporters at its Tokyo headquarters. While the new models are squarely aimed at emerging nations, including China, Indonesia and Brazil, "if customers in the United States or Europe like them, I will flexibly think about selling them there," Funo added.
In 2010, the firm launched its Etios compactc (Read: Toyota Etios and Etios LIVA Road Test) to the Indian market with a base price of about $10,000 (Rs 5.54 lakh), still far higher than domestic rivals such as Tata Motors, whose Nano sells for as little as $2,900 (Rs 1.61 lakh).
Total sales of Etios have surpassed 100,000 vehicles in India since its debut, the company said Friday. Etios is part of a broader plan to see half of Toyota's worldwide vehicle sales come from emerging markets, up from 45 percent in 2011, as global automakers rush to emerging nations amid stuttering sales in their developed markets.
The automaker, which includes the brands Toyota, Lexus, Daihatsu and Hino sold 7.35 million vehicles globally in the year to March. Funo offered few details about the new Toyota models, but said they will have an ‘excitement’ factor.
Funo said:
Source:
Toyota to introduce new models for India| Zigwheels.com
Japan's biggest automaker said it would make eight new cars at plants in Thailand, Indonesia, India and Brazil, priced at about 1.0 million yen ($12,500) or more. "We don't sell cars priced at 500,000 yen (Rs 3.48 lakh)," Toyota executive vice-president Yukitoshi Funo told reporters at its Tokyo headquarters. While the new models are squarely aimed at emerging nations, including China, Indonesia and Brazil, "if customers in the United States or Europe like them, I will flexibly think about selling them there," Funo added.
In 2010, the firm launched its Etios compactc (Read: Toyota Etios and Etios LIVA Road Test) to the Indian market with a base price of about $10,000 (Rs 5.54 lakh), still far higher than domestic rivals such as Tata Motors, whose Nano sells for as little as $2,900 (Rs 1.61 lakh).
Total sales of Etios have surpassed 100,000 vehicles in India since its debut, the company said Friday. Etios is part of a broader plan to see half of Toyota's worldwide vehicle sales come from emerging markets, up from 45 percent in 2011, as global automakers rush to emerging nations amid stuttering sales in their developed markets.
The automaker, which includes the brands Toyota, Lexus, Daihatsu and Hino sold 7.35 million vehicles globally in the year to March. Funo offered few details about the new Toyota models, but said they will have an ‘excitement’ factor.
Funo said:
"Cars need to have a factor of excitement. When a father buys a car, he must draw respect from his family who should say - Daddy, well done, and the family should enjoy going on a picnic over a weekend in that car,"
Toyota to introduce new models for India| Zigwheels.com