Toyota Motor to launch small car in India

08/22/07 - newratings.com

LONDON, August 22 (newratings.com) - Toyota Motor Corporation (TOM) Wednesday announced that it intends to launch a small car within two years in India.

The Chairman of the largest automaker in the world said that the company is looking at several countries, but would probably choose India as the first site. General Motors has already introduced a small car in India, while rivals Honda Motor Co and Nissan Motor Co are setting up plants in India. Indian conglomerate Tata Motors is also designing a small car. Toyota Motor said that the first plant was likely to be set up in its existing facility in Bangalore.