Toyota plans new subcompact family car for China

Shanghai, September 25 (Gasgoo.com) Toyota Motor is planning to launch a new subcompact family car in China by 2015, Kyodo News reported yesterday, citing company officials. The car will be priced lower than Toyota cars put on sale so far.

The new subcompact family car in the 1,200-cc class will be aimed at first-time car buyers and positioned as the Corolla, which sold well as a popular model during Japan's high growth period in the 1960s, the officials said.

In addition to the Lexus luxury car and the Camry midsize sedan, Toyota has introduced the Vios subcompact in the Chinese market, but the Vios with a relatively high price tag of some 173,000 yuan ($25,330) has failed to attract buyers in China.

Toyota will fully survey consumer needs through its local dealers before determining the design, equipment and price of the new subcompact for Chinese families.

The Japanese auto giant also plans to increase its Chinese dealership networks into inland regions and small cities. Currently the company has some 500 stores concentrating in the country's major coastal cities.

"China is an auto market that is as important as Japan or the United States," said Toyota Motor Executive Vice President Yukitoshi Funo. "We would like to offer a wide range of products from the Lexus to subcompact models."