Toyota to launch small car for China Also Read - Chennai-based Businesswoman, JMD of Lanson Group Reeta Lankalingam, Found Hanging at Her Residence

Toyota has announced that it will launch a small car in the Chinese market by 2013. The car will be a new model and will be slightly larger than the Etios and cost slightly more, at Rs 5.6 lakh. It will be powered by a 1.5-litre engine just like the Etios. Toyota will keep the price down by using Etios parts. It plans to invest 40 billion Yen to prep its Chinese plants for production of the new small car, and will manufacture about 200,000 units a year. It is also working on a low-priced car for the Brazil market, of whose initial target is 70,000 units. This car will go on sale in the second half of next year. The Indian market Etios is scheduled for a production boost to 190,000 units in 2013 from the current 80,000.  Also Read - Three of Indian-origin family killed in accident in Iceland

The new small car for the Chinese market is especially good news for Etios owners and prospective buyers, because commonality of parts means that the economies of scale will make spares prices drop, making the Etios one very affordable car to own.  Also Read - Renault to hike vehicle prices in India by up to 1.5% from Jan