Latest Car News in India

Thursday, June 23, 2011

By Pranjal Gera

Toyota Lexus to be seen on Indian roads soon

Toyota, the Japanese car maker is eyeing the Indian market and is planning to launch its luxury car Toyota Lexus in India.

Having observed the high sales and rapid growth of many rival companies like, Audi, Mercedes and BMW, Toyota is also planning to launch a financial arm to ensure high sales in Indian Market.

Hiroshi Nakagawa, the MD of Toyota Kirloskar Motors commented on this move and said that after a long study of Indian market, they are considering launching Toyota Lexus in India, and they have anticipated that many new initiatives can also be taken for India.

The Indian market has shown great rise in the sales of luxury cars and many companies have had a growth rate of almost 70% in the last year and they expect a better sales this year.

Sandeep Singh, deputy MD, Sales & Marketing said that constant work is going on to increase the Toyota’s product list in India.

On the financial front, the company is also planning to launch a financial arm to help the buyers and also the wholesale dealers.

Companies like Mercedes, BMW and Volkswagen also have a financial arm to support the buyers.

Some of the popular hatchback models in the Indian auto market are Ford Figo, Maruti SwiftHyundai i10, Chevrolet Beat and Volkswagen Polo. Apart from these popular models, cars going to hit the Indian roads this year are Toyota Etios Liva, Maruti Cervo and New Ford Fiesta.

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