INDIA: Lexus defers debut beyond 2013
Lexus had earlier planned to launch in India by 2013, the The Times of India reported.
Sandeep Singh, deputy MD of Toyota’s Indian subsidiary Toyota Kirloskar Motors, confirmed to the paper the luxury brand would not be making a debut any time soon.
"It will not be in 2013," Singh said, blaming a variety of negative factors for the decision. He said import duty on fully-built cars is very steep in India especially after it was raised in the union budget last year.
"This is a major hurdle as far as getting in Lexus is concerned as we have plans only to import the vehicles and not make them here."
A sharp depreciation of the rupee was another factor.
"The fall in rupee has also emerged as a major challenge and just does not make it right to import the cars."
The paper noted that Mercedes in 2012 saw sales fall for the first time since 2009 last year while BMW has also been under pressure.
Toyota’s plans to launch Lexus in India were announced by a senior company official during the Tokyo show in late 2011. The company had planned separate dealerships for the brand as in most markets.
Lexus was launched originally in the US in 1989 and its cars are made at four plants in Japan and one in Canada.
LMC Automotive's service provides customers with the very latest monthly estimates of passenger car production across all of Europe. Updated monthly and provided model-by-model, and available only via...
Robert Bosch plans to start automotive component manufacturing in Indonesia with an initial spend of EUR10m....
Market analysts are predicting that June will be another strong month for the recovering US light vehicle market, driven by retail sales....
So-called 'Active Multibeam LED' headlights will be launched by Mercedes-Benz in 2014, the company has revealed....
- VEHICLE ANALYSIS: Porsche 911 Targa 4
- THE WEEK THAT WAS: Active safety in the spotlight
- COMMENT: Foreign OEMs chose appeasement in China
- ANALYSIS: GM gets serious about Cadillac
- Emerging markets in trouble (1)
- Volvo finally takes covers off redesigned XC90
- Bear Grylls, brand ambassador for Land Rover
- Volvo to skip all-aluminium for carbon fibre
- MOSCOW SHOW: World premieres - final list
- Lada production to be cut as sales stall
- New Engines Aiming for 60% Thermal Efficiency Japanese Automobile Manufacturers Rising to the Post-HEV Challenge
- Tesla: The Californian start-up that made head way on the automotive giants
- Jaguar Land Rover: Providing remarkable growth throughout the economic downturn
- Global light vehicle OE exhaust & emissions aftertreatment systems - forecasts to 2029
- Global Charging Equipment for EV Market 2014-2018