Following GM and Hyundai, Japanese auto major Toyota Motors is planning to introduce small cars in India within two years. Toyota currently sells three models in expensive premium segment. Corolla, Camry and Innova.
General Motors (GM) have already introduced small car called Chevrolet Spark in India and Hyundai introduced Santro. Honda and Nissan are setting up plants to make small cars in India.
Why Auto makers are chasing small car segments in India ?
– Small cars can navigate crowded Indian roads
– Small cars are within the budget of a wider range of Indian consumers
– Indian manufacturing costs are among the lowest in the world.
– Auto makers are now racing to make forays into other parts of the globe, especially four rising economic powerhouses collectively called the BRIC countries – Brazil, Russia, India and China.