Toyota to launch $5,000 car in India by 2010

29 October 2008

It seems nearly every auto company worth its name in India is planning a Nano rival.

Now Toyota along with its subsidiary and small car specialist company Daihatsu Motor Co, known globally for its compact cars,  is said to be planning a small car for India, expected to be priced at around $5,000.

The auto maker wants to manufacture the car in India and could export the model to other countries, particularly, Brazil.

Till now Toyota has stayed away from the lucrative small car market in India but that now seems all set to change with the $5000-car hitting Indian roads by 2010.

According to reports this car would be launched under a new brand distinct from Toyota, which is known for its high-end Lexus or the Scion that are positioned at a younger target audience in the United States.

Earlier Toyota had announced plans to launch an "entry-level family car," to be produced in India and Brazil from 2010 and 2011, respectively and expected to cost around $8,000.