Toyota working on new car for emerging markets

Toyota Motor is developing a new low-cost car to attack fast-growing markets such as China and Southeast Asia.

Tokyo: Toyota Motor Corp is developing a new low-cost car to attack fast-growing markets such as China and Southeast Asia, targeting a 2012 launch and a price under 1 million yen ($11,520, or Rs 5.35 lakh), Japan`s Chunichi Shimbun newspaper reported.

The compact car will be based on its Vios and Vitz/Yaris subcompact models, and Toyota is aiming to slash production costs by 30-40 percent by procuring more parts locally, the paper said.
Toyota`s minivehicle unit, Daihatsu Motor Co, is also developing a small car for Southeast Asia, and may sell them under the Toyota brand, the Chunichi said.

With those two models and a new set of entry-level cars that Toyota has announced for India, Brazil and China, Toyota will have a three-layered approach to grab more sales in emerging markets, the paper said.

Toyota declined to confirm any part of the report.
Toyota is the world`s biggest automaker but has a relatively small presence in India, Brazil and other emerging markets, limiting its sales growth compared with well-represented brands such as Volkswagen and Hyundai Motor Co.

Toyota`s new entry-level car for India, called Etios, is due to hit the market at the end of this year.

Bureau Report

By continuing to use the site, you agree to the use of cookies. You can find out more by clicking this link

Close