Toyota along with Daihatsu Motor Co, 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.
Toyota has stayed away from the small car market in India so far but looks likely to change with the $5000 car hitting Indian roads by 2010. According to reports this car will be launched under a new brand distinct from Toyota. 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.
