Emerging markets in Asia are showing tremendous potential for growth and Toyota is one automaker that doesn’t want to be left out.
According to Reuters, Toyota is looking to offer more low-end, low-cost vehicles for the masses better compete in emerging markets. The vehicle will be similar to the Toyota Yaris and will be priced from $11,500.
While the price might sound reasonable, said Albuquerque Used Cars, it’s hardly competitive with the $2,500 Tata Nano. However, the Yaris-based vehicle will likely have a strong position simply due to brand recognition. The vehicle will also be built locally, which will help reduce production costs.
Toyota has not been as active in emerging markets in Asia and South America compared to the brand’s Japanese and American counterparts. But the automaker has more recently changed direction and Toyota is now focusing on small car development.
Reportedly, Toyota is planning to launch a new Etios for the Indian market later this year, a long with several small cars for South America. The new Yaris-based car for Asia will arrive sometime in 2012.
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