Everyone believed Yaris shall revive slowing Executive Sedan sales post it was showcased in the 2018 Auto Expo. Toyota launched it with all the fanfare on 18th May 2018 and it did bring customers to Toyota showrooms. However; the value conscious Indian Consumer was not ready to pay the premium Toyota wanted to command on its brand value and additional safety features it offered. Pricing definitely played its ploy and led to the fall Yaris sees till date. The segment now reels with a failed new launch and the segment leaders volumes falling down with every going month. May’19 was no different and the segment degrew -29% v/s May’18.
Snippets of segment performance –
- Ciaz holds the Top Spot and sold over 1k units from second in segment Verna. All Ciaz, Verna & City have been closely fighting for becoming the segment leader and every month there is a tough competition for the spot (Verna was the top selling executive sedan in Apr’19).
- Vento sold almost equal number of Rapids! It also grew a YoY 20%. Don’t understand the sudden surge in Vento’s volumes.
- Next to Yaris; Verna saw the steepest decline at -32% YoY. Focus shifted to Venue?