NEW DELHI: Japanese carmaker Toyota (TKM) is confident that two of its most popular models in India— Innova Crysta and Fortuner— will continue to dominate their market segments despite many launches by rival carmakers in the segment. “There have been many launches which were termed Innova beaters. However, our model maintained its lead in the MPV segment and, that too, after being in road for 15 long years.
At one point of time this year, Innova commanded 70 per cent of the market share, which on an average remains 40-45 per cent,” Naveen Soni, Senior VP, Sales & Services, Toyota Kirloskar Motor said. Toyota’s comments come even as rivals eye the MPV segment. The most prominent launches here were are Kia Motors’ Carnival, which so far has received a positive response from the market, and MG’s Hector Plus. MG feels that aggressive pricing and many first-in-the-segment features give Hector Plus an advantage. But, Toyota believes differently.
“Very low maintenance cost, great resale value and perfect blend of luxury and comfort keeps Innova ahead of the race. As for Fortuner, it has a different set of customers. It sits at the top of SUV line up and is one of the most aspirational SUVs of the country,” Soni said. The Fortuner, at present, controls 65 per cent of the upperend SUV market that falls in the `28-35 lakh band. The Ford Endeavour and Mahindra Alturas G4 are two other popular vehicles in this band.
Soni also noted that Toyota will be launching a new compact SUV-the rebadged version of Maruti Suzuki’s Vitara Brezza- in the later part of this year’s festive season. “The model will help us to strengthen our SUV lineup and increase our presence in the sub-1 million market,” he said. Like other carmakers, Toyota is also witnessing a jump in demand for smaller cars. “Yes, demand for Glanza has gone up in recent times. We are sure that once the confidence is back in the market and economic conditions improve, we will see increased demand for our premium vehicles too,” Soni said.
Enquiry levels rising
Enquiry levels have already come back to about 80-90 per cent of pre-Covid times, but due to continuing uncertainty in the market amidst rising coronavirus cases, buyers are holding back on purchases, according to officials in Toyota’s Indian unit.