Japanese automaker Toyota was reassessing its product launch strategy in India following the success of some of its recent launches that appear to have changed a few equations in the marketplace.
For example, Toyota has deferred the launch of its popular sports utility model Prado in India. The company had been keen on launching the model here and it was expected to be imported under the CBU (completely built unit) route.
"Prado will not be launched this year. We are still contemplating about what could be the next model. All options are open but it is premature to comment on the time or the segment," Satoshi Aoki, director, marketing division of Toyota Kirloskar Motor, told Business Standard.
The decision not to launch the Prado now was taken as the market for sports utility vehicle has seen the entry of several new or improved models in the last few months.
However, the market remains still small for a player like Toyota. "It is already crowded. We have to see how the volume grows in the segment," Aoki said.
Camry was the last product launched by Toyota and it was brought in under CBU route.
Before venturing into any new model as CBU, Toyota would have to put in place trained service teams at its dealerships and service stations and make spare parts available.
The SBU segment in India has exploded in last few months with models like Maruti's Grand Vitara, General Motors' Chevrolet Forester and Honda's CR-V launched in quick succession.
The MUV segment has emerged as a promising segment for growth for most automakers in India as vehicles in this category offer good margins.
