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Toyota Camry may drive out of India

Posted on: January 29, 2009

World’s largest carmaker, Toyota, may manufacture its globally popular sedan, Camry, in India, said deputy managing director of Toyota’s Indian subsidiary.

This would allow the Japanese carmaker to escape the huge import duty on imported cars and may bring down price of Camry by as much as 20-25% or Rs 4-5 lakh, if the company passes on the entire benefit to the consumer.
Camry is currently imported from Japan and attracts a composite import duty of 110%. At present, Camry sells at a price starting from Rs 21 lakh and competes with the likes of Mercedes C Class and Skoda Superb in the premium segment, which has a market size of 8,000 units a year.

If locally produced, it will be pitted against Honda Accord, Hyundai Sonata and Skoda Laura in the much larger executive segment, where more than 25,000 cars are sold every year.

Source: Pricewale.com

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