The low cost car model from Toyota

• Toyota Motor Corporation is about to complete work on a low cost passenger car, which will be launched in markets like India initially .
• The low-priced car is also expected to be launched in developed markets as well after launches in India, Russia, Brazil and China.
• The low priced car will not compete with the Rs 1 lakh Tata car but it is also expected to be launched in developed markets as well. The low priced car will be launched in India initially followed by Russia, Brazil and China.
• Toyota also plans to launch about five more cars, some of them on the Innova multi-purpose vehicle platform before 2015. By 2011, the company expects to sell about 2.11 lakh cars in India and about 5 lakh cars by 2015. The Indian subsidiary of Toyota Motor Corporation, Toyota-Kirloskar Motor Company is also set to post a 10–12 per cent increase in topline to about Rs 4,000 crore during 2007-08.
• Toyota is planning to make some minor changes in the Innova model but it will not undergo any design changes. These changes will be carried out based on the customers’ feedback. The new Corolla model will, however, be different from the existing model.