Toyota planning cheap car for emerging markets
Toyota trails Suzuki, Hyundai and Tata in the Indian market, so a new inexpensive model could help it capture more market share. They will face stiff competition from India's own Tata Motors, which recently announced a new small car that will start at just 100,000 rupees ($2,440) when it goes on sale late next year. Renault also offers a no-frills Logan sedan in India, and companies like Fiat and Volkswagen are also looking into this quickly expanding market.
[Source: Automotive News, sub. req.]
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