Toyota likely to introduce a low-cost car for Indian market
by 3, April, 2010 0 |
After Tata Nano, Maruti Cervo and Bajaj-Renault-Nissan’s ultra-low-cost car intentions, now is the time for Toyota to launch a product for the entry level market.
The assumption was first started by a Japanese magazine. It had printed an artist’s mind’s eye of Toyota’s low cost car.
The magazine says the car is believed to be fitted with a 2-cylinder 800 CC engine. Its dimensions may be 150x1535x1600 (LxWxH) and can cost Rs 2.5 lakh.
The mileage of the car can be 30kmpl and will be out in 2012, as per the magazine.
A top Toyota official said that the company may think about introducing multiple compact car models for the local market.
Dato Akira Okabe, senior managing director and member of the Toyota Motor Corporation board said, “Our current (Indian) market share in passenger vehicles is 3 per cent. In the next four years, we hope to sell three times our current volumes. And by 2015, our rate of growth will be in double digits”.
But the details provided by the magazine are mostly hearsay and the company has not come out with any official announcement in this respect.
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