The world’s largest car-maker Toyota Motor Corporation is planning to bring its small car brand Daihatsu on markets of India, Brazil, Russia and China.
Toyota Motor Corporation and its daughter company Daihatsu (Daihatsu is 51.2% owned by TMC) are going to produce a new Daihatsu brand car.
The small car will be the absolutely new compact car, which will be marketed by both companies. It will be launched in the end of 2010 or beginning of 2011 being built under the codename Entry Family Car (EFC).
Toyota already said that the Entry Family Car would cost less than $10000. The car will be sold under a new brand, the fourth for the automaker after Toyota, Lexus and Scion. Toyota Motor Corporation plans to manufacture the car in India and then export the model to Brazil, Russia and China.
Small car for the domestic market will be a brand new offering. Demand for low-priced, small cars in emerging nations such as China, India, Russia and Brazil is expected to grow in the coming years. The small car, according to Toyota executives, will increase its market share.