Managing multiple brands can be a tricky endeavor – just ask the Big Three – but Toyota plans to launch a fourth brand as it expands into the ultra-cheap car segment. The ultra-affordable city car is being developed with Toyota’s Daihatsu subsidiary and will be built in India.
According to Automotive News, the tiny city car will target Tata’s Nano and Renault/Nissan’s upcoming small car model. At $5,000 the new car won’t be as inexpensive as Tata’s and Renault’s offerings – which are expected to list from $2,500-$3,500 – but should offer an entry-level model for emerging markets.
That minuscule price target is the reason for the addition of a fourth brand, with the car deemed too cheap for the Japanese automaker’s Toyota , Lexus or Scion brands.
No word on what Toyota will name its new brand – or the new model for that matter – but look for Toyota to market the new marque in India, Brazil and a few other developing regions. Production should begin in India by 2015, with sales following shortly after.
