Toyota Kirloskar unveils Camry, to cost around Rs 18 lakh
By Mohini Bhatnagar | 21 Oct 2002
Bangalore:
Toyota Kirloskar Motors (TKM) has launched the Camry.
The Toyota Camry, one of the top sellers in the US mid-segment
market, will be available in India in two variants —
V1 and V3, priced at Rs 17.95 lakh and Rs 18.45 lakh,
respectively.
The Camry is powered by a 2.4-litre VVT-i (variable valve-timing intelligent) engine, and the company is in the process of delivering the first lot of 120 cars to dealers. The company targets sales of around 1,000 vehicles in the first year, which should give it a 20-25-per cent market-share in the high-end premium cars segment.
The sixth generation 2002 Camry is being imported from Japan through the CBU (completely built unit) route with close to 120-per cent duty, which includes the conventional customs levy, countervailing duty, central and local sales tax, says TKM managing director Sachio Yamazaki.
The Camry, since the time it was launched in 1983 in the US, has generated sales of more than 8 million units, say company officials. It has been the best-selling car in its class for four years in a row between 1996 and 2000 in the US, where it averages around 4,00,000 units a year.
The
car, sporting one of the quietest and most spacious interiors
in its class, will be available in five colours —
silver metallic, beige mica metallic, black, dark green
mica metallic and super white.
It is also being marketed without any high-profile television campaign, which usually accompanies such launches. But Yamazaki says there will be a limited but well spread out media promo with the catch phrase, ‘Touch the Perfection.’
Toyota Kirloskar Motor plans to launch the Toyota Corolla in the first quarter of 2003 and will manufacture the car at the company’s Bidadi plant in Karnataka. For the Camry, the company will go through the import route.
A company official says the Indian luxury car segment grew to 350-400 vehicles per month in September 2002, from 250 vehicles for the same period a year ago. “Indications are that with an improving economy, sales should only get better.”
Yamazaki says Toyota wants to occupy a pre-eminent position in the 1.5-million Indian automobile market and has made an entry through its luxury car Camry to work towards that goal. The car will be pitched against the Ford Mondeo, the Honda Accord and the Mercedes ‘C’ class in the D segment.
The company, in the meantime, says it has sold 69,000 Qualis since it was launched in India two-and-a-half years ago. The new Qualis version is expected to sell 14,700 units in the current year.
TKM expects to report revenues close to Rs 1,635 crore in the current year, up from Rs 1,621. The company reported break-even in June 2001.
