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Toyota eyes sizable market share in Indian luxury car segment with Lexus
The initial phase of the premium brand’s Indian operations would involve CBU hybrid models.NDTV Auto reports that Toyota is finally gearing up to launch its Lexus luxury brand in India this year. The Japanese automaker has been contemplating this move for the past several years.
The initial phase of the premium brand’s Indian operations would involve CBU hybrid models.NDTV Auto reports that Toyota is finally gearing up to launch its Lexus luxury brand in India this year. The Japanese automaker has been contemplating this move for the past several years.
With its premium brand, Toyota would be looking to garner a sizable market share in the promising Indian luxury car segment which is currently populated by Lexus’ traditional rivals Mercedes-Benz, BMW, Audi, Jaguar Land Rover, and to some extent, Volvo. The publication reports that hybrid models would play a huge role in the marque’s Indian operations.
Lexus India is reported to commence operations in August this year with its RX compact crossover. Targeting the likes of Audi Q5, BMW X3 and upcoming Mercedes GLC, the Lexus crossover would be available in India only as hybrid model – RX 450h. The company is counting on governmental subsidies on hybrid vehicles under the FAME (Faster Adaption and Manufacturing of hybrid and Electric vehicles) to boost its prospects.
The RX 450h is powered by a 3.5-litre V6 petrol engine and an electric motor to produce a combined output of 308 PS. India-spec model is expected to be equipped with AWD. The RX would be followed by the BMW 5 Series-rivaling GS 450h mid-size hybrid sedan and flagship LS 600h which will take on the Mercedes S Class and the like.
Lexus India is reportedly looking to sell around 3,500 cars a year by 2018 and 5,000 units by 2020. Eventually, more models, non-hybrid variants and local assembly could come into picture.
This article first appeared in rushlane.com
