Toyota India is Planning to Launch New Models in India

The Japanese auto giant has announced lately that a number of new compact cars had been manufactured by the company, which are priced around $12,500 (Rs 6.92 lakhs) and are meant to target the sales for the year 2015 with more than a million models sales annually for the developing nations which have emerging markets. Toyota reported that the company is going to manufacture eight cars at the various plants which also include Thailand, Indonesia, India and Brazil with a cost of about 1.0 million yen ($12,500) or more than that.

Yukitoshi Funo, executive vice-president of Toyota further added that the company does not provide cars with the cost of 500,000 yen (Rs 3.48 lakhs) but all the new models which are being developed by the company are aimed at the emerging markets China, Indonesia and Brazil but then also if the customers in United States or Europe are liking these cars than these new models may be launched in the developed countries also. Toyota Etios Compact was launched in 2010 in the Indian market whose base model cost was $10,000 (Rs 5.54 lakhs) which was more than the domestic car makers like Tata Motors with its Nano being sold at $2,900 (Rs 1.61 lakhs). Toyota India accounted the sales of 100,000 units of the Etios in India since its launch.

In this fiscal year the auto maker which includes brands like Toyota, Lexus, Daihatsu and Hino had a sales of 7.35 million of vehicles globally. Funo also reported that the market of Myanmar is way too small for the particular moment but the company is searching new markets for the growth of the business while looking at the future growth of the market as well. Toyota had bounced back to its original position in the automobile industry in the first quarter of the year 2012 by pushing back the US auto giant General Motors according to the figures of the manufacturers.