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Old 28th November 2009, 11:39   #1
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Thumbs up Toyota Fortuner commanding 3 Lakh+ premium in Grey Market! EDIT Booking opens in Jan

Toyota's Furtuner has suddenly become most 'aspirational' vehicle in India. While it has exceeded the expectations of the conservative Toyota management in India is now no secret, it would command a hefty premium of 15% over the ex-showroom price has taken everybody by surprise.

The showroom ready cars are selling at upto 3.25Lakh over the x-showroom price of 18.5L.

Does this indicate an immenent price rise soonar than later as it gives a clear signal to Toyota management that this vehicle does have the potential of fetching extra over the current price.

Another noteworthy aspect is that the above is reported even after a price reduction of upto 2Lakh + on it's nearest competitor, Chevy Captiva
bringing it fairly lower than the fortuner's !

What say ...

Cheers!
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Old 28th November 2009, 12:31   #2
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I do not think that there would be so much black on the Fortuner.

I feel , this straight way will push the car in to CRV category and considering not most of the people would be using the 4WD of the vehicle and CRV being better in handling, people should be looking at CRV or may be even Nissan Xtrail.
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Old 28th November 2009, 12:46   #3
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Please check the Fortuner testdrive thread this issue was discussed months back.

Fortuner actually has a premium of 3 lakh rupees on white and black colors in delhi, it got it confirmed personally.
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Old 28th November 2009, 13:27   #4
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Er I haven't been keeping up with the news but why is there such a large premium? What's the waiting list like?
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Old 28th November 2009, 13:32   #5
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As I type, there is a Black Fortuner up for takes ready delivery in Coimbatore selling at a premium of 50K. The waiting period for the Fortuner in TN and KL is 6 months.
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Old 28th November 2009, 14:33   #6
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Well, my brother owns a Toyota Fortuner and we bought it for some 21+lacs and i must say that Toyota have came up with a very decent contender to the SUV's in its segment.
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Old 28th November 2009, 16:39   #7
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The premium is on account of two factors first, there being a waiting of 4 odd months and second, the booking has been suspended till March. So, somebody looking to buy the vehicle for immediate use has no option but to pay the premium.
As per toyota dealers, white and metallic brown are fast moving colours, so may be commanding max.premium.
I went to test drive and possibly book the car last week to Uttam Toyota in E.Delhi, but was told about the booking being suspended till March.
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Old 28th November 2009, 16:51   #8
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There was a sting operation by one of the TV channels, I think it was a program called Beware, where they caught few dealers (not direct Toyota dealer, but multi-outlets and DSA's) who were promising delivery on a 3 laks premium.

The Toyota dealer mentioned that though they cannot take a booking, as booking as been suspended by Toyota, one can get a Fortuner from outside by paying a premium.
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Old 28th November 2009, 18:59   #9
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Here is the moneycontrol sting operation on Fortuner Video - Beware unearths how agents allegedly sell cars at a premium
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Old 28th November 2009, 19:21   #10
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In Chennai a few dealers tell me that quoted premium is about 2 lakhs. I don't think this is a reason enough for Toyota to raise prices as the premium is purely paid by a small segment of people who want to be the first few to have it. Most cars tend to have this effect when it is a segment breaker/leader. Over time the hype will die down and it will sell for it's actual price. Anyone recalls if Innova had a premium in it's early days?
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Old 28th November 2009, 19:26   #11
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I remember M800 having 35K premium at one time. Now that was huge...
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Old 28th November 2009, 19:45   #12
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Yes, unfortunately this piece of news is correct.

A very close friend of mine was ready with a 20 lac cheque and said he wanted a Mica Grey Fortuner in 45 days and was ready to pick it up from anywhere in Northern India.

The Toyota Dealers are so full that in Agra & Gurgaon & Delhi there is a waiting list of 5 months from today and a compulsary buying of accessories worth 1 lac !!!!

The only one fortuner I could trace out was a Blue One in Gurgaon which could be picked up wthout any premium.

I am told by a few people that it is so much in demand with politicians that every one is adding a few to their fleet !

Last edited by vkochar : 28th November 2009 at 19:47.
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Old 29th November 2009, 00:14   #13
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TOYOTA is already charging a hefty premium on the FORTUNER since it is a budget SUV based on the INNOVA platform.

The INNOVA is being sold at a loss, and the FORTUNER is commanding a hefty premium, all business strategy.

If you ask me, the INNOVA is easily worth 12 lakhs and the FORTUNER should cost it only 17 lakhs, the remainder is all profit
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Old 29th November 2009, 00:18   #14
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Quote:
Originally Posted by TheARUN View Post
TOYOTA is already charging a hefty premium on the FORTUNER since it is a budget SUV based on the INNOVA platform.

The INNOVA is being sold at a loss, and the FORTUNER is commanding a hefty premium, all business strategy.

If you ask me, the INNOVA is easily worth 12 lakhs and the FORTUNER should cost it only 17 lakhs, the remainder is all profit
i dont think any company will be still selling a product if it is going in loss.
yes the profit margins of the innova has reduced due to competition but apart from that even after being in the market for over 4 years the innova is still doing very well for itself.
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Old 29th November 2009, 00:23   #15
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Quote:
Originally Posted by vinaydas View Post
i dont think any company will be still selling a product if it is going in loss.
yes the profit margins of the innova has reduced due to competition but apart from that even after being in the market for over 4 years the innova is still doing very well for itself.
The reason the INNOVA is doing very well is because customers perceive it as a value for money offering. When it was introduced, most customers had the QUALIS handover and shied away from the INNOVA.

Over time the INNOVA really caught up and is the clear leader now.

The INNOVA sells for 9 to 13 lakhs, and the amount of kit you get for 13 lakhs is simply amazing. Its easily worth a few more lakhs, but TOYOTA would kill the car by pricing it high, so it is absorbing the loss.

The FORTUNER is nothing but a reskinned INNOVA. It does not cost almost double the price of an INNOVA.
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