Slow build- up to hybrid switch
Soft oil prices will create less incentive for potential buyers opting for alternatives
The oil price slide will be of no help when it comes to try and convert potential car owners in the GCC — and elsewhere — to switch to hybrid, according to senior Toyota officials.
“A lot of factors have to come together for the hybrid option to gain force,” said Takayuki Yoshitsugu, Chief Representative for the Middle East and North Africa at Toyota Motor Corp. “But with oil prices at such lows, a key incentive for buyers is no longer there, even if it’s for a certain phase.
“Apart from oil prices, there have to be plenty of incentives on offer for anyone thinking of a switch to alternatives, such as liberal tax breaks for hybrid car buyers that you see in Japan or in the US. ( In October, the manufacturer confirmed that it has cleared the seven million units mark for its hybrid range, with the last one million getting sold in nine months flat. It’s portfolio features 27 hybrid and one plugin hybrid model.)
“But, the Gulf markets are yet to offer up such concessions, and they have their reasons. But manufacturers like Toyota will continue to give such options to buyers in as many markets as possible, and that includes the GCC.”
Currently, its Gulf dealerships showcase Lexus badged hybrids as well as ship them in on specific orders. Even on the Toyota side of things, its UAE dealership, Al- Futtaim Motors, have handed over hybrid versions of the Camry sedan for
Apart from oil prices, there have to be plenty of incentives on offer for anyone thinking of a switch to alternatives, such as liberal tax breaks that you see in Japan or in the US.”
Takayuki Yoshitsugu
Toyota, Mena Chief Rep
the taxi fleet in Dubai.
While it keeps a slow burner for its hybrid offerings, Toyota believes there is plenty of action happening with its gasoline powered models. Declining to go into specifics on the nearterm launches, Yoshitsugu said the brand has made headway into making cars that will have a connect with their owners. “The top management has coined the phrase ‘ Waku Doki’ — which literally means ‘ a faster heartbeat’ — that should be the driving principles of how our models are designed,” said Yoshitsugu. “I think with our recent launches such as the new Corolla and the 86 sports car, we have shown how Toyota plans to engage our customers with the concept.
“We have other models in the pipeline that will create the promised experience. It will make for a busy 2015.”