The world's largest automaker, Toyota Motor Corp., is eyeing emerging markets with a new low cost model that was unveiled this week in India. The production version of the 2010 New Delhi Show >Etios Concept is available at launch as a four-door sedan model, but will be joined by a five door hatchback called the Etios Liva in April of 2011.
The company said the Etios has been developed specifically for Indian customers and will be built at a plant in Bidadi, near Bangalore. However, Toyota eventually plans to offer the small sedan in other emerging markets such as China, Brazil, Thailand and possibly certain regions of South America.
The 4.265mm (167.9-in.) long sedan boasts a rather large boot with a luggage space of 595-liters and is powered by a newly developed 1.5L, 16V DOHC engine coupled to a 5-Speed manual transmission. The Etios sedan will be available in four variants, J, G, V and VX, with prices ranging between 4.96 Lakhs and 6.86 Lakhs making it the company's most affordable offering in India.
Commenting on the launch of the Etios, Mr. Akio Toyoda, President TMC said: “India is a key market for our overall strategic growth plans, and the launch of the Etios is definitely a milestone not only for Toyota in India but for Toyota globally."
"We at Toyota believe, ‘the road makes the car’ and the Etios is a product of real-world testing on roads across India. Our testing has covered a hundred thousand kilometers on every kind of road that Indian drivers encounter, from Kolkata to Mumbai, from the Himalayan foothills to the tip of the Indian peninsula
According to JD Power, Toyota sold a little over 60,000 cars in India through October, compared to 870,000+ sales from Marutti Suzuki, which is the market leader in the country.