Toyota Plans Small Car For China In 2013

Toyota plans to launch a small car in the Chinese market in 2013. The small car will be powered by a 1.5-liter engine and is expected to be slightly larger than the Etios. The company plans to price the car below 1 million yen (Rs. 6 lakhs). To achieve this price point, Toyota plans to use various parts from the Etios. An investment of 20 billion yen will help the company to setup local production to manufacture 2 lakh units per annum of the small car. The company might opt for a joint venture route to optimize resources for the upcoming car.