The Economic Times of India reports that Toyota is planning to introduce the Corolla to the Indian market next year.

The car will be manufactured at Toyota's Bidadi plant near Bangalore for a rollout in the first quarter of next year.

The Economic Times says that there has been much speculation on the model that Toyota would launch into the lower medium C segment, which is currently led by Hyundai's Accent.

According to the report, Toyota Kirloskar Motor Ltd (TKML) has finally decided to launch a Corolla variant in India - it is expected to be a 'world model', with its Indian name and price still not finalised.

Mr Sachio Yamazaki, the managing director of TKML, told the newspaper that the car 'will offer value for money pricing' and that the company would like to sell 1,000 units a month.