Toyota Kirloskar's Qualis will roll-out in the market in early January at a price tag of Rs 550,000.
The US$ 170 m Toyota Kirloskar Motor Ltd. is a joint venture between Toyota of Japan. Toyota holds 88.9% equity stake in this venture, while the balance is with the Kirloskars.
The Qualis, a multi-utility vehicle (MUV), is Toyota Kirloskar's maiden offering. According to a leading financial daily, market sources point out that the company will project the vehicle as a car, rather than a MUV. The company will position the car in competition to the likes of Lancer (Mitsubishi).
Pricing of the Qualis is a closely-guarded secret, but rumours have it that it will be in the vicinity of Ford's Ikon. The Ford Ikon is priced approximately at Rs 550,000, and sources believe that the Qualis will be priced just above that.
With the introduction of MUVs positioned at the car segment, the car market will get even more crowded. The passenger car segment has witnessed a slew of launches (Nexia, Accent, Ikon, Baleno) over the past few months. This has made the segment extremely competitive. Now with MUVs invading their turf, the passenger car segment will offer more depth to consumers. If Qualis' positioning as a passenger car is successful, other manufacturers like TELCO, M&M will also explore this possibility.
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