Toyota India is planning to launch its luxury brand the Lexus in India. The booming Indian economy and the rising incomes and spending levels have made the company look at the India market seriously.
The current luxury brands leda by BMW, Mercedes-Benz, Audi and JLR have posted over 70% growth in volumes last year and expect healthy gains in the coming years as well. Lexus will have an independent dealer network and will start with major cities initially.
Hiroshi Nakagawa, MD of Toyota Kirloskar Motors, said the company was considering a series of new initiatives as it expands in India. “We are studying, and now more deeply considering bringing Lexus to India,” Nakagawa said.
“India is a key focus market for Toyota and we are looking at ways to increase our footprint as well as product offerings,” said Sandeep Singh, deputy MD (sales & marketing).
Source: ET
