If you have deep pockets and fancy fast cars, you have a reason to celebrate. Audi, BMW and Mercedes have been making a lot of profit over the last few years. This has made Japanese manufacturer Toyota realise that it has to pay more attention on its luxury brand Lexus. Lexus, which has been in the market for about 25 years, has been retailing in over 70 countries and territories. However, the brand never made it to India for a number of reasons.
But now, looking at the success of luxury car makers in India, the Japanese manufacturer is showing interest in bringing its Lexus series to India.
Naomi Ishii, Managing Director of Toyota Kirloskar Motor India hinted at a possible entry into the rapidly growing Indian luxury car market soon.
Naomi Ishii, while addressing the media at the launch of the Etios Cross, said , “We see a lot of opportunity in India now. Given that the three German brands are doing well, I feel we need Lexus here.”
The reason for Toyota keeping Lexus away from the Indian market was mainly due to the absence of a diesel engine line in their luxury offerings. It has been evident through studies and sales figures that diesel vehicles are prioritised over petrol. The other two manufacturers planning to introduce their luxury brands in India are Honda and Nissan. Honda and Nissan are considering bringing their luxury offerings, Acura and Infiniti respectively to India soon.
In times when people are ready to pay an extra buck to get a premium product, Toyota’s strategy is completely logical to expand Lexus for better profits for the company.