
According
to Reuters and the Japanese business newspaper Nikkei, Toyota will
launch a new small car, designed and engineered specifically for the
Chinese market, in China by 2013. The new car will be a little larger
than the Etios sedan that is currently sold in India, and will have a
1.5-litre petrol engine.
Toyota will try to keep cost low for
its new budget car, and the car will be heavily based on the Etios. The
new car will be built in China at the rate of 200,000 cars per year, in a
joint venture with Toyota’s Chinese partners, the China FAW Group and
the Guangzhou Automobile Group. Toyota hopes that the new model will
help increase its market share in China to above the current 5%.
As for other markets, Toyota plans to more than double the production
of the Etios in India, from 80,000 currently, to 190,000 units by the
end of 2013. Additionally, the Japanese carmaker plans to produce
another budget car for the Brazilian market by the end of 2012, with a
70,000 annual production target, as well as producing even more
low-priced cars in Indonesia.