Toyota India has stated that they will now pay greater attention to launch of larger cars catering to a more elite set of buyers. Small car segment in the country mainly caters to first time buyers and consists of a host of small offerings in the form of Maruti Alto and WagonR, Hyundai Eon, i10 and Brio. These cars attract a lower excise duty due to their compact size and are hence more value for money.
Toyota will focus on cars such as Innova and Corolla thus aiming at larger margins and more profitability. In the coming months, Toyota India will be launching two new products in this segment which will include new Corolla Altis and Etios Cross. Etios Cross will be based on Liva hatchback. New Etios Cross was showcased at 2014 Auto Expo earlier this year and has also been spotted on test a number of times which signals its impending launch. Once launched, Etios Cross will compete against Volkswagen Cross Polo and Fiat Avventura.
In last fiscal, market share of Toyota fell by 1% to 5.18%. March 2014 sales were also not upto expectation, declining to 9,160 units as against sales of 21.143 units in March 2013. This has instigated Toyota to revamp its current line-up and bring in more appealing vehicles to customers, which the company hopes will work to its advantage and bring in more promising results.
Source Live Mint