Tuesday, 29 November 2011

Toyota to launch luxury brand Lexus in India in 2013

Looking at the ever surging demand for luxury cars in India, Japanese car maker Toyota Motor Corp. is set to introduce the Lexus brand in the country in 2013, according to two people familiar with the plan.

Speaking to Wheelomania.com during the Tokyo Motor Show, Yukitoshi Funo, Executive Vice-President, Toyota Motor Corporation said that the decision to launch Lexus in India had been taken and that the company was now moving to work out details on launch date, relevant models, operations and a dedicated sales network with its Indian affiliate Toyota Kirloskar Motor Ltd., to meet an early 2013 date to launch this iconic brand.

The company, which is present here through a joint venture with the Kirloskar Group, will set up separate exclusive showrooms for selling the cars and sports utility vehicles of the brand.

The Lexus range of luxury sedans and sport utility vehicles (SUVs), which have a strong following in India, will have its own dealership network.

While the Indian luxury car market forms less than 1% of the total car market, increased income levels saw the segment growing 70% in 2010. In 2011, most luxury car makers have defied the slowdown that has hit the rest of the industry and have surpassed the previous year’s numbers. Around 15,000 luxury cars were sold in India in 2010, and 20,000 units are expected to be sold this year.


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