Lexus is a premium luxury car brand which is a sub-brand of the global Toyota which is sold in International market. Toyota India is planning to launch its luxury brand the Lexus in India. The booming Indian economy and the rising incomes and spending levels have made the company look at the India market seriously.
The current luxury brands lead by BMW, Mercedes-Benz, Audi and JLR have posted over 70% growths in volumes last year and expect healthy gains in the coming years as well. However, Lexus cars (being a luxury brand) will not sold from Toyota’s sales outlets. If the company brings the line of luxury sedans and SUVs, it will establish separate dealerships for retailing them.
Hiroshi Nakagawa, MD of Toyota Kirloskar Motors said the company was considering a series of new initiatives as it expands in India. “We are studying, and now more deeply considering bringing Lexus to India,” Nakagawa said.
“India is a key focus market for Toyota and we are looking at ways to increase our footprint as well as product offerings,” said Sandeep Singh, deputy MD (sales & marketing).
There is no detail or timeline of launch, but considering the growth of luxury car sales in India in past one year, Toyota will surely want to take the early bird advantage by launching Lexus cars in India as early as possible.
Toyota India also has plans to introduce a Financial Subsidiary so that the customers can avail of loan facility easily. Called as Toyota Financial Services, this subsidiary will help boost Toyota’s auto sales in the future. Their market study is almost over, though a final decision on entry is still pending.
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