Toyota to unveil low-cost car next month

Toyota said it will unveil a concept of its new car for emerging markets at the New Delhi auto show on Jan. 5.

The Japanese automaker plans to sell the low-cost compact car in markets such as India, Russia and Latin America.

Code-named EFC (Entry Family Car), the model is expected to cost well under $10,000.

Toyota has said it plans to begin production of the car at a new Indian factory from late 2010. Production in Brazil is due to start in 2011 at the earliest

Toyota said it will display 13 other concept and production vehicles at the New Delhi show.

Reuters contributed to this report.

By Paul McVeigh- Automotive News