Japanese car giant Toyota, will unveil a new edition of its luxury sedan Camry in India next week. Toyota Kirloskar Motor (TKM) is expecting that the launch of the new edition will boost the sale of the model.
The sale of the Camry fell drastically by over 75 per cent during the April-June period. So the existing Camry will be upgraded with some additional features like new front grille, headlamps, fog lights and rear view mirrors with indicators to lure customers. Toyota Camry is sold in India as a completely-built-unit (CBU).
The existing luxury sedan comes with a 2.4 litre engine and is priced between Rs 21.0-Rs 22.58 Lakh (ex-showroom, Delhi). Besides the Camry, Toyota Kirloskar Motor will also bring in its sports utility vehicle Fortuner by September, which is expected to be priced around Rs 20 Lakh. The company would launch the SUV with a 3-litre advanced common-rail diesel engine.
According to the Society of Indian Automobile Manufacturers, Toyota Kirloskar Motor (TKM) lost significant share of the premium car market to its rival Skoda Auto India during the first quarter of the current fiscal.
While Toyota Kirloskar Motor sold 44 units of Camry in Q1 against 182 units in the year-ago period, Skoda Auto handed over keys of its recently upgraded luxury sedan Superb to 541 customers in the same period. Apart from Toyota, carmakers in the premium segment like BMW India, Honda Siel Cars, Hyundai Motor and Mercedes-Benz also lost their market shares to Skoda's Superb.
The new Camry will have to compete with the BMW 5 and 6 series, Honda Accord, Hyundai Sonata and Mercedes-Benz C-Class cars.