World’s largest carmaker Toyota on Thursday launched an updated version of the only hybrid car being assembled in India — Camry — with a reduced price tag of Rs. 31.20 lakh for the hybrid and Rs. 28.80 lakh for the petrol version.
The launch follows the government’s announcement of new incentives with discounts ranging from Rs. 29,000 on twowheelers to Rs. 1.38 lakh on cars that run on alternate energy.
Toyota also sells the Prius in India, the world’s largest-selling hybrid, but it is completely imported from Japan.
“We have sold more than 8,000 Camrys since its launch. Camry hybrid has also been well accepted,” said Naomi Ishii, MD, Toyota Kirloskar Motor Ltd. “There has been an increased acceptance of hybrid in India.”
Lack of infrastructure and high cost have stymied sales of electric and hybrid vehicles in India. Mahindra sold less than 600 units of the e2o last year. The new incentives have brought the price of e2o and Camry hybrid down by Rs. 92,000 and Rs. 70,000 respectively, but it is unlikely to have a major impact on sales.
M&M recently announced a 16% reduction in price of the e2o electric vehicle.
“The launch of the scheme is a great fillip for us but we don’t expect a radical rise in sales,” said Pravin Shah, president and chief executive (automotive), M&M.