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....
- ANALYSIS: What does TPP mean for autos?
- THE WEEK THAT WAS: Volkswagen, diesel, recalls
- COMMENT: Tesla Model X - the elephant in the room
- VEHICLE ANALYSIS: Redesigned Vauxhall (Opel) Astra
- Thailand looks to end first-time buyer overhang
- Aston Martin mulls new factory location
- JLR confirms Brazil plant will assemble Evoque
- LA SHOW: Facelifted Porsche 911 AWD variants
- VW withdraws most 2016 US diesels
- ADAS seeing ‘unprecedented growth'
- Global light vehicle safety systems market- forecasts to 2030
- Global light vehicle engine technologies market- forecasts to 2030
- Global light vehicle OE exhaust & emissions aftertreatment systems - forecasts to 2030
- Ford Motor Company (F) - Financial and Strategic SWOT Analysis Review
- Global light vehicle electric motors market- forecasts to 2030