Come 2013, Toyota will have launched a subcompact vehicle designed specifically for buyers in China. So says Nikkei, a Japanese news outlet.
This subcompact will reportedly be powered by a 1.5-liter engine and will be slightly larger than the Toyota Etios. Pricing for the China-specific subcompact is estimated to start at less than one million yen ($12,793 U.S. at the current exchange rate).) The Nikkei says Toyota will source parts directly from the Etios to use in the Chinese subcompact, which should keep costs to a minimum.
Reports suggest that Toyota will invest some 40 billion yen ($512 million U.S.) to prep for local production of up to 200,000 units a year of the China-specific subcompact, which will reportedly be sold through two of Toyota's Chinese joint ventures, China FAW Group and Guangzhou Automobile Group.