Toyota Kirloskar Motor aims a rise of 20 percent of total vehicle sales in India by 2020 from less than 2 percent today. The company aims to up the production of their hybrid cars and introduced new hybrid car line like the Prius hybrid by early 2017.
The company aims to open a bigger variety of hybrid cars to its Indian market by adding another vehicle to their growing line-up. The company already offers the Camry hybrid to its Indian market and the new Prius, the newest addition to their hybrid family, is entering the market in early 2017. The company also eyes on producing and introducing a hybrid version of their Corolla.
Going back earlier this year, the company released its first hybrid car the Camry and now coming almost exactly as the same time as last year to the Indian market in the better Prius hybrid car. The new hybrid car sports a hybrid powertrain that consists of a petrol engine along with an electric motor.
The new Prius boast a 10 percent increase in fuel and economy and a 40 percent in thermal efficiency by the time of its release according to the company. Additional features are Qi charging and JBL speakers.
Toyota also aims to build a partnership with Daihatsu, a low-cost car-making division in the near future. The partnership aims to produce more cars with clean fuel technology for emerging markets and countries like India.
The cost of Toyota’s hybrid cars such as the Camry is positioned competitively at 3.3 million rupees or $47,932, that’s about 15 times the price of a typical sedan and the regular petrol variant of India’s top-selling cars.
The company’s portfolio of hybrid cars goes up to 30 vehicles. A total of 9 million hybrid cars were sold globally by Toyota. Another opportunity Toyota is looking at right now is the launching of Lexus India. The Lexus line is the premiere and the luxury division of Toyota, the coming of the brand is expected to come shortly after the company gave away Lexus model to each of its local Indian dealers.
Lower Excise Tax for Hybrid Cars
The Japanese car makeing giant also pushes a lower excise tax for pure hybrid cars. The company also wants to steer clear the distinction between full hybrid car models against mild hybrid technologies.
The current excise tax for hybrid cars; be it pure or mild, small or huge is around 12.5 percent. Both Suzuki and Mahindra produce mild hybrid electric motor technology. Also earlier this year Honda Cars India also called for the segregation of a fully hybrid and mild hybrid technologies for equitable distribution of resources.
Vice-Chairman of Toyota Shekar Vishwanathan said that they respect the government views on the common misconception about the hybrid cars and that there is correction needed because of strong hybrid cars or fully hybrid cars are much more fuel efficient.
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