Sales Promotion Toyota

The high growth in the Indian economyhas resulted in many foreign car manufacturers entering the Indian market. Rolls Royce, Bentley and Maybach are examples of the fewhigh end automobile manufacturers to enter India in the recent years.Chennai is the automobile capital in India. It has a lot of foreign direct investment inautomobile industry [ citation needed ]. Chennai is often called as the 'Detroit of Asia' [ citation needed ].There were only a few handful of cars in the Indian market in the 1980s. Most of thesewere outdated models like Hindustan Motors 'Ambassador (which is still produced andsold). The only car with the latest technology then was the Maruti 800. It became very popular because of the low price, high fuel efficiencyand good reliability. Since then themarket has grown with over 20 manufacturers and hundreds of models and variants. The Maruti 800is at the lower end of the price range costing approx US $5,000 and Bugatti Veyronat the other with a price tag of over 2 Million US dollars.The Indian automobile industry has matured over the years and is now highlycomptetitive with major Japanese, Korean , European and Indian companies all holdingsignificant market shares. [1]In addition to foreign models like the Hyundai Santroand the Ford Escortvarious indigenous cars like the Tata Indicaand the Mahindra & Mahindra SUV, the Scorpioare also popular. These cars exported to the markets worldwide [ citation needed ]. An electric car is also manufactured by a local company, REVA .Tata Motors plansto produce the world's first air powered in partnership with MDI of France[ citation needed ].The passenger vehicle sales in India crossed the one million mark in 2005. This segmentgrows at 10-15% annually. Around 85% of the cars sold in India are financed as againstthe global average of 70% [ citation needed ]. In neighbouring China,only 15-20% vehicles arefinanced [ citation needed ]. There are only three cars in India for 1000 people as