Toyota launched a slightly changed version of the Vios subcompact car in Thailand on March 8th.

Retail prices for the new Vios, which has eight variants, range from THB 514,000 (US$ 15,600) for the base baseline 1.5 J version with a manual transmission to THB 714,000 for the range-topping 1.5G limited edition with automatic transmission.

Toyota, Thailand's largest auto-maker, hopes growth in the passenger-car segment will mean sales of the minor-change Vios subcompact showing an improvement over those of the outgoing model. Toyota plans to sell 4,500 units of the new Vios during an introductory period, while average sales should settle at 4,200 units per month, Toyota Motor Thailand (TMT) senior vice president Wichien Emprasertsuk said.

Exports

In addition, 1,000 units per month will be exported to ASEAN markets, including Indonesia, Brunei and Singapore.

The Vios is also produced in Malaysia and the Philippines. TMT president Kyoichi Tanada said while all segments of the Thai auto market were recovering, the biggest growth would be in subcompacts.

Wichien said higher crop prices played a major role in the auto market's growth. "Prices this year are very good for agricultural products like rice, rubber and palm oil," he said. Auto sales could exceed 610,000 units year, and Toyota has targeted a 43% market share.

Nissan March

The launch of the new Vios comes ahead of the official launch of the Nissan March, the first model to emerge from the government's eco-car project.

Toyota plans its own eco-car for production in 2012 and thus will closely watch how the March, as well as other eco-cars from Honda, Mitsubishi, Suzuki and Tata, fare in the market.

Wichien said sales of the first eco-cars to be introduced would average about 5,000 units per year per maker. "We must wait and see how these cars will perform in the market, in order to have a more accurate picture," he said.

Toyota will focus on maintaining the Vios's market share. "The eco-car may be cheaper, but we have been in this market for a long time and know the best package is being offered in cars priced above THB 500,000. We'll also offer special financing packages that allow customers to pay almost the same amount in monthly instalments for the eco-car," Wichien said.