Toyota to launch a small car in India in 2010

Nihon Keizai Shimbun has reported citing a company source that the Japanese automobile giants Toyota have plans to launch a small car in emerging auto markets like India in 2010.

This car is expected to be powered by a 1-liter engine and would be priced at around 800,000 yen, which is around 100,000 yen cheaper than the cheapest offering from the company right now.

Toyota would be developing this car in Japan itself and would use the expertise of their subsidiary Daihatsu Motor Co.

The company would also be targeting other markets including Central and South America as well as Central and Eastern Europe.

Toyota is suffering from falling sales in the Indian market due to lack of competitive products and they would want to become a dominating player in this market.