Toyota racks up 7,086 bookings for Etios

Etios, the ambitious sedan from the stable of Toyota Kirloskar Motor (TKM), has received 7,086 bookings since its launch on December 1.

The company said that the northern region contributed almost 40% to the overall bookings, while the western region chipped in 32%. The rest came from the South. Mumbai alone contributed 1,200 bookings of Etios.

According to Mumbai-based dealers, Etios is receiving tremendous response despite the vehicle still not being displayed in the showrooms. It is not even available for test drive. Customers are eager to buy the product, thanks to the aggressive branding and marketing strategy by Toyota, they said.

“The bookings are overwhelming and much better than our expectations. Cars will be available for display and test drive at all our dealer locations by end of December,” said Sandeep Singh, deputy managing director marketing, TKM.

However, initially customers will have to wait for at least four months to get deliveries of Etios.

With Etios, Toyota is entering the mass B segment, majorily dominated by Maruti Dzire. Followed by Etios sedan, the company is also in the process of launching Etios Liva (hatchback), again in the B category.

The company, however, said it did not intend to come out with a car below Liva.

According to Singh, “The B segment is the most potential segment as far as volumes are concerned. The segment contributes around 38% to the overall sales in the auto industry. We expect to sell 70,000 vehicles (sedan and hatchback) in the first year of the launch, out of this, we expect sedan to contribute around 60% of sales.”

The Rs2,300 crore project for Toyota is expected to be the game-changer for the company. Currently Etios has 70% localisation content.

The company is investing Rs500 crore for production of engines and transmissions, which will be operational by 2012.

TKM is also keenly studying the possibility of having diesel variants of Etios. “We will first observe the market for three months. Diesel launch will depend on the response we receive,” said Hiroshi Nakagawa, MD, TKM.

Etios will be launched in Brazil in 2012, and the company will look at some modifications required to enter that market. “We will be looking at Bric region for the growth of the Etios platform,” said Yoshinori Noritake, chief engineer of Etios.

The company currently produces 2,500 units of Etios per month, which it plans to ramp up to 9,000 units by July.

TKM said its Etios sedan platform can be used for producing multi purpose vehicles, but currently has no plans for the same. “We have a very flexible platform and can produce MPVs, but as of now, we have not decided on the plans,” Yoshinori Noritake, chief engineer Etios said.