Toyota eyes to spice up cars with new development techniques
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Toyota To Set Up Camry In Indian Market
Japanese auto giant Toyota Kirloskar Motor Ltd declared plans to set up its premium sedan, Camry, at its Bangalore plant.
Camry would be assembled from the month of July and re-launched by August in the market with a refreshed price.
Thus far, Toyota has been importing around 300 units of the Camry by year from the Japanese market.
Camry is the only car in its section, which is wholly imported.
Its rivals such as Volkswagen Passat, Skoda Superb and Honda Accord are all set up in the Indian market.
Importing a completely built unit (CBU) in the country magnetizes a prohibitive effective duty of well over 100%, replicating the vehicle’s cost.
When imported in completely knocked down (CKD) state and set up here, however, the duty turns half.
Toyota is making an investment of around Rs 900 crore towards capacity growth at its Bidadi plant that would take its overall capacitance to 310,000 units by next year.
Sandeep Singh, deputy managing director (sales and marketing), Toyota Kirloskar Motor Ltd stated, “Our plan is to start assembling the car in July and launch it in August.”
“It will be priced above Rs 20 lakh but we will share the exact price only during the launch,” Mr. Sandeep Singh added.
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