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Read more about Toyota Motors seeks India sales boost with global-specifications models on Business Standard. Toyota\'s current market share is around 5% and its two India plants operate at about half their capacity to manufacture more than 300,000 vehicles a year

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toyota motors seeks india sales boost with global

Toyota Motors seeks India sales boost with

global-specifications models

Toyota Motor Corp will bring to India models with global specifications, its local

unit head told Reuters, as it seeks to boost sales in the world's fifth largest

passenger car market by appealing to buyers' increasingly aspirational tastes.

For the past 20 years, Japan's biggest automaker has made cars specifically for

India, but it has failed to catch up with Maruti Suzuki India Ltd and Hyundai Motor

Co, which together account for around two-thirds of sales in a market skewed

towards cars costing less than $8,000.

Toyota has now set its sights on the higher-end of the market, joining other

automakers such Ford Motor Co, Fiat Chrysler Automobiles-owned Jeep and

Renault SA targeting an expanding, affluent middle class willing to spend on

premium cars such as sports-utility vehicles.

"The Indian customer has changed from Indian local standard to global standard,

and in the next 10 years it will exceed global standards," Akito Tachibana,

managing director of toyota kirloskar motor said

managing director of Toyota Kirloskar Motor, said in an interview ahead of the

Auto Expo car show held in India every two years.

"We need to catch up with changing customers and changing government

regulations," Tachibana said. "We are now a little successful in India but it is not

enough."

Toyota's current market share hovers around 5 per cent and its two India plants

operate at about half their capacity to manufacture more than 300,000 vehicles a

year.

Sales of the last two no-frills models made specifically for India — the Etios sedan

and the Liva hatchback — were lacklustre as customers criticised the company for

compromising on quality and finish to keep costs low.

Pricier models such as the Innova multi-purpose vehicle and Fortuner sport-utility

vehicle - which cost more than 1 million rupees ($15,593) - have done much

better, though, and analysts say Toyota's strategy to focus on this segment is

sound.

"India is not the country it used to be.

Earlier to develop a specific product for India was the need of the hour," said

Gaurav Vangaal, senior analyst at research firm, IHS Markit.

"Now Indian customers want global products," he said, adding that a government

push to adopt stricter emission norms is also driving the switch to global models.

Passenger vehicle sales in India grew about 9 percent in 2017 to 3.2 million units,

industry data showed. India is expected to become the world's third-largest car

market by 2020.

on wednesday toyota unveiled the yaris sedan

On Wednesday, Toyota unveiled the Yaris sedan ahead of the car show. The car,

which will compete with Honda's City sedan and Hyundai's Verna sedan, is

expected to go on sale after April.

Article By - Business Standard