Will challenge Maruti Suzuki and Hyundai products.
According to ET Auto, Toyota Kirloskar plans to introduce the most fuel efficient, safest and best value-for-money small car in India to challenge the likes of products from Maruti Suzuki and Hyundai. However, it is only expected to arrive in 2020, after BS-VI regulations are implemented.
The car will be jointly developed by the new company set up by both Toyota and Daihatsu, named Emerging-market Compact Car Company, which will make use of Daihatsu's approach to manufacturing affordable, high-quality products, for emerging markets. Other than a small car, TKM is also eyeing for a compact MPV and SUV as well.
Speaking to ET Auto, Akito Tachibana, MD of Toyota Kirloskar stated:
The most favourable story for us is that cars developed by Daihatsu will be made for the local market and at an affordable price. We will begin research to assess customer expectations in each market to define the concept of a vehicle before any development.
Toyota may have not managed to capitalise on the small car segments in Indian with the Etios sedan and Etios Liva hatchback, but the company has not entirely given up. With Daihatsu's expertise in developing cars at competitive costs, Toyota Kirloskar Motor hopes to launch new products in the small car space and find new buyers.
[Source: ET Auto]