Toyota is to begin selling cars in India priced at around $6000, a report said Thursday, as the Japanese auto giant looks to boost its share of the country's growing affordable car market.
The company will seek to avoid devaluing the Toyota name by creating a new brand for the sector, which it hopes to enter in 2016, the Asahi Shimbun newspaper reported without citing sources.
Japan's biggest automaker began selling its low-cost sedan Etios in India in 2010, but with a price tag of $10 000 it is still expensive compared with cars made by rivals such as Tata Motors, whose Nano sells for as little as $2900.
Toyota has said it wants to achieve 50 percent of its worldwide vehicle sales in emerging markets from 2015 compared to 40 percent in 2010.
Toyota declined to comment on the report.