Toyota is planning to launch a new range of small cars in Europe from 2009.

According to Handelsblatt, Toyota's European head, Thierry Dombreval, said Toyota is expecting to sell around 70,000 units a year.

The new cars would be based on the IQ concept shown at the IAA in Frankfurt this year. The car would compete with the Volkswagen Up! Concept.

Volkswagen is planning to launch models based on the Up! Concept at the end of the decade.

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