There were rumors that Toyota might be looking at bringing in a $6000 (~3 lac) car for Indian market to enter the entry level segment to boost its sales. And in this bid, it would create another brand to avoid any devaluation of its existing brand.
However, Toyota has denied any such move and said there are no such plans of launching such a low priced car in India. This official confirmation puts to rest any speculations about Toyota’s entry in the segment where Nissan would be entering reintroducing their low-cost ‘Datsun’ brand by 2014. Current cheapest car from Toyota is Etios Liva hatchback which starts at somewhere close to Rs 5 lac.
Source: Financial Express