India is becoming a hot spot for many car companies as well as component manufacturers. Many car manufacturers are gradually establishing their production facilities in the country with a vision to produce the best at minimal cost. That’s what India is known for!
India has a large pool of talents, input resources, and easily available low-cost labour that can be intelligently utilized to produce world-class cars at a comparatively less cost. Many car manufacturers like the Maruti Suzuki, General Motors, and the Fiat have already made India their hub for car production and others like Toyota are following their footsteps.
Toyota’s plans to manufacturer Camry in India would not only reduce the cost of production but would also help the company escape the huge import duty. At present the car is being imported from Japan and sells at a price starting from Rs 21 Lakh. If the company starts its production in India, the price tag of the car is likely to be reduced by about 20-25%. But the price would be reduced only if Toyota decides to pass the entire benefit to its valued customers.
Once the local production of the Camry starts and it gets available at competitive price, the car would face rivalry from leading executive sedans in the country like the Honda Accord, Honda City, and the Skoda Laura.
Its would be right to say that if Toyota starts the production of Camry in India, the company will save lots on import. But do you think that the company will pass on the entire benefit to its customers. Even the company must have desires and aspirations to gain high profits by this move.
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