The emerging markets in Asia have the most potential for growth and the transportation of choice is either high-end luxury vehicles or low-cost, basic transport for the masses. Reuters reports (via Japan's Chunichi Shimbun newspaper) that Toyota is planning to introduce something on the low-end of the spectrum; a $11,500 small car based on the Yaris.

While a starting price of $11,500 is hardly a Tata Nano competitor, it gives Toyota a stronger position in emerging markets. Toyota would reportedly be able to build it locally, cutting production costs by 30-40 percent. The still unannounced small car could arrive in calendar year 2012.

Toyota may have stayed on the sidelines at the beginning of the automotive booms in South America and Asia, but it appears as though the automaker is now betting big on small transportation. The Japanese automaker reportedly plans to launch the Etios in India by the end of the year, a series of small cars for South America and a mini car build by Toyota-owned Daihatsu Motor Co. We would be surprised if any of these products will ever arrive here in the States, but they will help the world's largest automaker to increase it's presence in emerging markets.

[Source: Reuters]