Nissan is developing a fifth generation Micra, a media report said.

Indian Autos Blog, citing a company source, said a modified version of the V-platform is being used for the new model line.

The source said investments Nissan India had made on the V-Platform were "significant" and "letting go" of it to spend more on the CMF platform could not be justified. Instead the automaker had modifed the V-Platform.

The first prototypes of the new Micra were ready with launch expected in 2016.