Toyota and minivehicle subsidiary Daihatsu Motor are reported to be developing a cheap new car for India.
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Japan’s Asahi newspaper said the car would sell for about US$5,000.
Neither automaker would comment. Toyota has been slow to develop such ’emerging market’ models though, last July, it announced the acquisition of land to build a new manufacturing plant in Sorocaba, just 55 miles west of São Paulo City, in Brazil, where it will build a compact, though not entry-level, model from 2011 at the rate of 150,000 units a year.
Meanwhile in India, Tata Motors is readying its $2,500 Nano, though launch has been delayed by a last-minute factory switch, following protest over land seizure. Rival Bajaj Auto is working with allinance partners Renault and Nissan Motor on another budget car and Hyundai Motor, already well entrenched in India, and General Motors are also considering an ultra-low-cost vehicle.
The Asahi said Toyota plans a $5,000 vehicle for early 2010s launch under a completely new brand.
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By GlobalDataSales in Brazil are also possible, the paper added.
