UPDATE 1-Toyota to launch small car for China in 2013 - Nikkei

Newswire

(Follows alerts) July 29 (Reuters) - Toyota Motor Corp will launch a small car designed for the Chinese market as early as 2013, the Nikkei business daily reported. The new car, powered by a 1.5-liter engine, will be slightly larger than the Etios and priced below 1 million yen ($12,853.6), the paper said. Toyota intends to cut costs by using Etios parts. It plans to spend about 40 billion yen to prepare for local production of about 200,000 units a year, the paper said. Toyota, which ...

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