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Toyota president confirms plans for new model for developing markets

From Itar-Tass news agency| January 22,2007

Toyota president Katsuaki Watanabe has confirmed to Japanese media this week that Toyota is developing a new small, low-priced car for developing markets including China and Russia, which is expected to be ready for launch in 2010.

With a 1-litre engine the car is likely to be priced at around the US$6,000-7,000 level, but specifications may vary from market to market. It is likely to be both cheaper and larger than the Toyota Aygo produced in the Czech Republic in partnership with PSA. Nissan has been reported to be considering a similar project for developing markets.

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