Toyota resumes Camry Hybrid production

A recent media report suggests that Toyota has resumed production of the Camry Hybrid in India. The production of the hybrid model was temporarily halted back in October 2017 due to stock build up following a tax hike.

Shekar Vishwanathan, Vice-Chairman, Toyota Kirloskar Motor has told the media that the production of the MY2018 Camry Hybrid has resumed. That said, sales of the model have declined from 100 units to 25 per month. Lower sales can be attributed to the recent hike in GST, which has driven the price of the hybrid model up by 13%.

Toyota is also looking to introduce hybrid models in lower segments but it would depend on the tax structure. Currently, there are 34 hybrid models in Toyota's global portfolio. The Vice-Chairman also believes that the time is right to have a more aggressive pricing on hybrid vehicles. Lower prices would result in higher volumes and that would help bring down the cost of batteries.

Toyota is set to launch the Yaris around May 2018. The Yaris will be positioned below the Corolla Altis and will rival the likes of the Honda City, Maruti Ciaz and Hyundai Verna. Apart from the Yaris, the carmaker has no plans to introduce new models until BS-VI regulations roll out in 2020.

Source: Hindu Businessline