The initial interest in this car, that is expected to challenge the upper-C and lower-D segment cars and also comparable crossovers like Ford Fusion, is unprecedented in the Indian automobile market.
Priced aggressively at Rs 6.74 lakh for the entry-level petrol version and Rs 7.32 lakh for the diesel version, the car received the extra push through a Rs 14,000 price cut post budget.
TKM sources though said that the initial response has been overwhelming, the company expects the volume for this product to stabilise at 4000 units a month, which is what the company's top management has set as target.
The good response for Innova, apart from being priced aggressively, is also due to the fact that it targets a wider section of the market that includes the retail (for household use) and the commercial or the fleet market.
The response for Innova has for now even surpassed comparable vehicles in the market like the Ford Fusion but also other recent launches in different categories like Hyundai Getz.
Launched in the last quarter of the previous calendar year, Getz gives close to 1500 units a month, with February sales dipping to a lower volume of 1166 units.
Innova: One of the best cars to drive
Ford Fusion (priced between Rs 6.20 lakh and Rs 6.95 lakh) is selling less than 500 units a month.
Ford executives however said that Fusion sales is at present constrained by production capacity limitation and added that post April this year the company would be able to sell 1000 units a month.
"Once the capacity for Fusion is expanded, we are confident that the market will absorb our production," said, Vinay Piparsania, vice president (market and sales), Ford India.
Market sources pointed out that the consistent success of the Innova would depend a lot on how well the product is received in the fleet segment.
"The good volume the company get is partly due to the volume lost after the withdrawal of the Qualis. Unless the Innova takes the vacuum left by Qualis, continued success will be a big challenge," said a market source.
The fleet turf is still left open for the Innova, Tavera from General Motors and Sumo from Tata Motors. Ford Fusion is positioned as a family car that can used for going to work, shopping and a host of other activities surrounding the family.
