The joint venture between Toyota Motor Corporation and Kirloskar Group – Toyota Kirloskar Motor Private Limited, which sells Toyota brand of cars in India, has disclosed the price of its compact small car that Toyota is planning to roll out next year. Toyota Motor, which gained wide popularity for its Qualis and Innova, is gearing up to launch two new cars – eagerly awaited SUV Fortuner and a small car – in the Indian market.

Toyota has already disclosed that its new small car will be released in petrol and diesel variants, and now Toyota Kirloskar Motor has disclosed that the new small car from Toyota will be priced in the range of Rs 5 lakh to Rs 7 lakh.

“The compact car will be priced in the B+ category,” said Sandeep Singh, deputy MD, for the first time, disclosing details about the much-awaited small car from Toyota.

That means Toyota small car will compete with Skoda's Fabia, Tata Motors' Indigo, Ford Fusion, Hyundai's Accent, Chevy UVA, Maruti Swift, Maruti’s upcoming Ritz, and Honda’s upcoming Jazz (priced at Rs 5.5 lakh).

According to Toyota Kirloskar Motor, Toyota small car will be released in both sedan and hatchback versions. The company will produce around 70,000 units of the small car at its Rs 3,200-crore factory at Bidadi in Bangalore. Initially, the compact car will have 65% localization, which will be increased to 90% by 2011.  
      
The world’s biggest car manufacturer by volumes, Toyota Motor is planning to increase its production to 5,000 units a month by July, and double sales and servicing manpower by 2010.