Financial Daily from THE HINDU group of publications
Friday, Apr 25, 2003
Financial Daily from THE HINDU group of publications Friday, Apr 25, 2003 |
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Marketing
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Strategy Toyota to sell Camry through `events' Our Bureau
BANGALORE, April 24 TOYOTA Kirloskar Motor Ltd has put together a multi-pronged strategy to market their mid-class luxury Camry here. Mr K.K. Swamy, Deputy Managing Director of Toyota-Kirloskar Motor Company, told newspersons today that several major events to market Camry would be organised during the year. These include a golf tournament called, `tee in the dark.' A fashion show was held earlier, proceeds of which went to a NGO. Around 100 chief executive officers from Bangalore will be invited to participate in the golf tournament which will be held in the night. Similar events will be organised in Delhi and Mumbai, Mr Swamy said. "We plan to associate Camry with premium events," Mr Swamy added. The model is primarily marketed through the direct marketing route. He said the company plans to sell over 1,000 Camry cars during the current calendar year. Since its launch in October, around 500 cars have been sold. The company expects to have a market share of 20 per cent to 25 per cent of the segment. The total market size of the mid-size luxury sedan is around 5,000. This segment registered a 40 per cent to 45 per cent growth in 2002. The company plans to offer newer models of Camry in India whenever they are launched internationally. The costlier version of the car, V3, which is priced at around Rs 18.5 lakh, constitutes around 90 per cent of the total sales. The V1 model is priced at around Rs 18 lakh. The V3 model has leather upholstery, while V1 has fabric upholstery. The completely built unit (CBU) car is being imported from its Japanese facility and the various taxes on the car are around 100 per cent. . Toyota Motor Corporation has sold over 8 million units of Camry since its launch in 1983. According to the company, Camry has been the best-selling car in the US for the last four years and is sold in more than 100 countries. It is currently manufactured in eight countries. Mr Swamy said the company has reopened its factory though the production has not been restored fully. Toyota closed down its factory on April 21 and April 22 because of a truckers' strike which paralysed the supply chain of several automobile companies. He said the company has targeted a sale of 34,000 units of its largest selling vehicle, the Qualis.In 2002, the company sold 25,000 units of Qualis. The company plans to sell 9,000 units of its another model, Corolla during the current calendar year.
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