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Toyota positive about revival in 2021

The company hopes that January onwards there will be some revival with many customers looking at personal mobility in the post-Covid world.

By Telangana Today

Updated On - 6 January 2021, 07:21 PM

Toyota positive about revival in 2021 — (Left to Right) Mr. Tadashi Asazuma, Sr. Vice President, Toyota Kirloskar Motor, Mr. Masakazu Yoshimura Managing Director, Toyota Kirloskar Motor, and Mr. Naveen Soni, Sr. Vice President, Toyota Kirloskar Motor at the launch of the new Fortuner and Legender

Hyderabad: The automotive industry that has gone through a rough patch during 2020 is hoping for a revival from January onwards even as more and more customers are looking to buy four-wheelers. Reiterating the same sentiment, Toyota Kirloskar Motor (TKM) top official said that the company had a roller-coaster ride last year with first quarter being the most difficult and some signs of recovery showing in the last quarter. However, the company hopes that January onwards there will be some revival with many customers looking at personal mobility in the post-Covid world.

Speaking at the launch of the new version of its premium SUV Fortuner and high-end trim of the model called Legender, TKM senior V-P, Naveen Soni said, “Last year was extremely difficult for the automotive industry and we were no different. The first quarter was a difficult period, however the second and third quarter saw a lot of focus from customers on personal mobility and the last quarter is when the demand was starting to come back. In Q4, the demand was 6 per cent higher when compared to previous period last year. We ended the year with lean inventory.”

On Wednesday, TKM announced the launch of premium SUV Fortuner, priced between Rs 29.98 lakh and Rs 37.43 lakh (ex-showroom Delhi) and also unveiled high-end trim of the model, christened as Legender, priced at Rs 37.58 lakh. TKM said that it has opened bookings for both Fortuner and Legender. Since its launch in 2009, over 1.7 lakh units of Fortuner have been sold in India. “Fortuner currently commands over 50 per cent market share in the premium SUV segment in the country, he noted,” he said.

The company is looking at launching two new products apart from the Fortuner and Legender launched on Wednesday. “As things look positive for this year, we are looking at launching new Innova and new Urban Cruiser,” said Soni.

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