Toyota to produce 70,000 compact cars by December 2010

Japanese car maker Toyota Motor Corp will produce 70,000 units of its new compact car by the end of December 2010. Deputy Managing Director TKM Sandeep Singh said, "To begin with we will be manufacturing 70,000 units of the compact car and are looking at a 10 per cent market share within one year of its release."

Unlike the present cars which are only about 30% indigenous, this compact car will be 70% indigenous. The engine will be imported from Japan. However, the company has not yet announced the price range for this car.