Photo: Lexus
Toyota Kirloskar Motor (TKM) will probably delay even more the launch of Lexus-badged vehicles on the Indian market due to heavy import duty rates and sluggish market.
Several feasibility tests interfered with the automaker’s keen will to introduce the luxury vehicles on the local market, as duty-related costs and predicted limited volume sales are the main challenges.
"The Lexus project has been delayed due to heavy import duty and the sluggish market. We cannot set a definite timeline as no decision has been taken on the import duty reduction," Sandeep Singh, deputy MD and COO (marketing and commercial) at TKM said.
The idea of bringing Lexus in India has gone for about two years now. Last year, TMK Managing Director Hiroshi Nakagawa said that the company is struggling to make it happen but the challenges it needs to overcome may lead to big losses.
Full story at The Indian Express
"The Lexus project has been delayed due to heavy import duty and the sluggish market. We cannot set a definite timeline as no decision has been taken on the import duty reduction," Sandeep Singh, deputy MD and COO (marketing and commercial) at TKM said.
The idea of bringing Lexus in India has gone for about two years now. Last year, TMK Managing Director Hiroshi Nakagawa said that the company is struggling to make it happen but the challenges it needs to overcome may lead to big losses.
Full story at The Indian Express
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