Toyota launched its new Avalon sedan in Korea on Tuesday. The luxury sedan, which is equipped with a 3.5-liter engine and is almost 5 m long, is expected to compete with domestic large sedans such as Hyundai's Grandeur and Genesis, as well as imported rivals like the Ford Taurus.
The automaker unveiled the Avalon at a press event in Incheon on Tuesday and said it has set the price at W49.4 million (US$1=W1,073). The new model, which is manufactured in the U.S., its primary market, retails there for US$30,990 to $39,650. Only the most expensive model costing $39,650 is available in Korea.
"We tried to set the price as low as possible to compete with domestic large sedans, despite the high import tariffs, shipping costs and some added features for the Korean market," the company said.
The Avalon is bigger than the Grandeur and smaller than the Genesis. It delivers up to 277 hp and fuel efficiency of 9.8 km per liter, sitting between its two rivals in terms of both measures.
"We set a modest goal to sell 30 to 40 cars per month and 360 units a year. It's more significant for us that Toyota now has a full lineup [from compacts to large sedans] in Korea, rather than us simply counting sales," said Toyota Korea President Hisao Nakabayashi.