The Japanese auto-giant toyota has finally zeroed on their decision of introducing their luxury brand – Lexus to the Indian market. As per the recent revelation from the manufacturer, Toyota Lexus would foray into the Indian market in the year 2017.
The onset of the same has already been done and, the red carpet been laid down. Since June 2016, Toyota has been importing near-luxury brand models such as ES 300h and LX 450d into the Indian market to set standards and double check on the standards and specifications, before making the inevitable launch of the Lexus brand in India.
Unfortunately, this is not the first time Toyota had expressed their excitement and intentions to launch their luxury brand Lexus in India. They had made public revelations back in 2011 that the luxury brand would be launched in 2013. However, the hike in custom duties to 100% for imported cars by the Government of India in 2013 held then back. This would lead to a massive price disadvantage for them as Toyota was planning for the CBU route for launching Lexus in India.
And, this would have made it extremely challenging to compete with its German rivals who had dedicated assembly lines of many of their cars in India. However, this time round, Toyota is positive with its launching plans as they feel that India is ripe for launching hybrid cars which also attract a comparatively low custom duty.
To add to it, the additional concession of INR 1.38 lakh provided on hybrid vehicles larger than 4 m would enable Lexus to set realistic prices in India.
