The Toyota Glanza has been well received in the market within a quarter of its launch, helping the Japanese carmaker to inch ahead and gain more market share. In the first half of FY2020 itself, Toyota Kirloskar Motor has outperformed Tata Motors and Honda Cars India to claim the fourth position in the Indian market.Company officials say that the Glanza has significantly added to the overall volumes, around 2000 units per month, besides the fact that both the Innova Crysta and Fortuner have been performing consistently well.
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Toyota has recorded a jump of 23 basis points taking its total market share to 4.86 per cent in the Indian market in H1FY2020 as opposed to 4.63 per cent during the same period last year. At the same time, Tata's and Honda's market shares have taken a substantial hit due to the prolonged slowdown. Tata Motors market share in the same period has dropped to 4.75 per cent from 6.21 per cent while Honda Cars India's market share has slipped to 4.60 per cent from 5.49 per cent during the same period last year.
The Toyota Glanza, essentially a cross-badged Maruti Suzuki Baleno, is the first product of the Toyota-Suzuki alliance. It has the job to generate volumes for Toyota in the premium hatchback segment which previously the Etios Liva didn't quite do. Initially, the Glanza was launched just with the mild-hybrid variants, but just last week Toyota has added a new entry-level variant in its line-up as well. Going forward, Toyota's position in the Indian market could be seen improving further, more so with the cross-badged Vitara Brezza and Ertiga joining the party by 2022.
Source: ET Auto