New Delhi: When every automaker in the nation is trying to flood the market with as many models as possible, reports suggest that Toyota will not bring any new models in the market for nearly 3 years. Toyota Kirloskar, the Indian arm of the Japanese carmaker has revealed this shocking decision, after they mentioned that the Etios and Liva brands shall be the only areas of concentration for the company. As Echoed by the MD, Sandeep Singh “We will not come up with new models for next three years. We will focus on strengthening Etios and Liva.”
Toyota saw a 26% dip in sales for the month of November, which was mainly to expand the production capacity of the plants. Within the next calender year, their target is to expand the all-India capacity to 310,000 units a year which currently stands at around 210,000 units annually. While this news sounds rather positive and well for the brand, it does bring out a very defensive approach to refurbishing the entire product range during a time when competitors are doing everything possible to ensure greater market share and more loyal customers. For eg, Toyota Kirloskar thinks that since the Innova and Fortuner are doing fair in their segments, nothing new will be bought into India for a period of 3 years, as new offerings from the company.
The combined sales of Etios and Liva in the month of November was 4,231 units which is a steep decline when compared to last November’s 8,271 units. However the Innova and Fortuner registered a growth of 9% (4,682 units) and 19% (1,025 units) respectively. As business critiques, one might say Toyota is being outrightly complacent, but there is always the sense that something else could also be wrong in the Indian arm of the Japanese car major. Till the mystery is solved, Toyota has no real news to ponder upon.