new Delhi: LexusJapanese auto major’s luxury brand Toyotahas started exploratory work for the launch of electric cars in India as the company prepares to take on the German giants mercedes benzBMW and Audi for a legion of affluent Indian car buyers.
The company is looking to expand the locally assembled model line-up in the country from a single model (ES sedan) currently manufactured at the parent Toyota’s plant in Bangalore, President of India Naveen Sony Told TOI.
Lexus has been in India for almost five years now, but the rollback of the low-duty regime on hybrids and the lack of local assembly operations meant that the company remained marginalized. The pandemic and low availability due to chip shortages also affected the company’s expansion plans over the past two years.
“However, now we are planning to expand the business in India. We see India as an important market and will take steps to broaden our operations here, including a strong model line-up and a comprehensive sales and service set-up,” said Soni, who worked at Toyota. After took over the brand, said.
Lexus on Wednesday launched a new NX 350h crossover with a price tag of Rs 65 lakh (ex-showroom) for the base version.
The brand currently operates through four dealer points in India – called ‘Guest Experience Centers’ – and three more will be added in the next two months. “In addition to these, we intend to have additional sales and service touch points to cater to a larger set of markets and audiences,” Sony said.
Speaking about the plans for full-electric vehicles in India, he said that the company has started preliminary trials to assess the expectations of the customers and the market. “We are currently conducting trials for electrics in India from the point of view of customers and their preferences.”
When asked whether the company is planning to look at local assembly of green cars in the country as it helps in availing the lower 5% GST duty, Soni said, “It is too early to comment on this. All such plans will be justified by the sales volume that this market will generate in the luxury sector.
The luxury car market in India is currently around 30,000 units annually, and accounts for just 1% of the wider car market.
Speaking about competition from established luxury players, Sony said that Lexus is confident of growth in India as the industry currently has low penetration. “There is room for everyone. The market is growing strongly and we expect good momentum as the market moves from here.
The company is looking to expand the locally assembled model line-up in the country from a single model (ES sedan) currently manufactured at the parent Toyota’s plant in Bangalore, President of India Naveen Sony Told TOI.
Lexus has been in India for almost five years now, but the rollback of the low-duty regime on hybrids and the lack of local assembly operations meant that the company remained marginalized. The pandemic and low availability due to chip shortages also affected the company’s expansion plans over the past two years.
“However, now we are planning to expand the business in India. We see India as an important market and will take steps to broaden our operations here, including a strong model line-up and a comprehensive sales and service set-up,” said Soni, who worked at Toyota. After took over the brand, said.
Lexus on Wednesday launched a new NX 350h crossover with a price tag of Rs 65 lakh (ex-showroom) for the base version.
The brand currently operates through four dealer points in India – called ‘Guest Experience Centers’ – and three more will be added in the next two months. “In addition to these, we intend to have additional sales and service touch points to cater to a larger set of markets and audiences,” Sony said.
Speaking about the plans for full-electric vehicles in India, he said that the company has started preliminary trials to assess the expectations of the customers and the market. “We are currently conducting trials for electrics in India from the point of view of customers and their preferences.”
When asked whether the company is planning to look at local assembly of green cars in the country as it helps in availing the lower 5% GST duty, Soni said, “It is too early to comment on this. All such plans will be justified by the sales volume that this market will generate in the luxury sector.
The luxury car market in India is currently around 30,000 units annually, and accounts for just 1% of the wider car market.
Speaking about competition from established luxury players, Sony said that Lexus is confident of growth in India as the industry currently has low penetration. “There is room for everyone. The market is growing strongly and we expect good momentum as the market moves from here.