Toyota Etios set to woo entry-level sedan market

Toyota Etios set to woo entry-level sedan market
HERALD BUSINESS DESK
PANJIM, NOV 29
Toyota, with the launch of the Etios, is targeting the entry-level sedan market with an aggressive entry price of around Rs 5.25 lakh.
The car has been specifically designed keeping in mind India and other emerging markets and will take on well-established models like Maruti Dzire, Tata Indigo and Honda City.
The company’s seriousness with the Etios, for which it has invested almost Rs 3200 crore in a new plant, can be understood by the fact that it will be launched by Toyota’s Global president Akio Toyoda, the grandson of the company’s founder Kiichiro Toyoda.
Industry sources said the car that will sport a 1500cc petrol engine is likely to carry an ex-showroom price of around Rs 5.25 lakh.
“It will be placed around this price point as Toyota wants an aggressive stance in the market,” said a source.
A diesel version of the sedan will follow by late next year, though its hatchback version (with a smaller petrol engine) will be launched in March next year.
When contacted for confirmation of the price, Toyota Deputy MD Sandeep Singh declined to comment.
“The exact price will be known on December 1, when we launch the car. Deliveries for the model will begin in January.”
With the Etios, Toyota plans to garner a higher market share of the fast-growing Indian car market that along with China is the world’s fastest growing.
Toyota currently is a small player in India, though it enjoys a strong position in segments where it is present.
The company’s current line-up in India includes multipurpose vehicle Innova, luxury sedans Corolla and Camry and SUV Fortuner and it hopes to sell around 73000 units this year, expecting to double this to about 145,000 units after the launch of the Etios.
The company currently has low single-digit share of the Indian car market and has said it wants a 10% share to “occupy a mind-share of the average car buyer”.