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 |  Aug 04 2010, 1:20 PM

With markets like China, Brazil, India and former Soviet bloc countries becoming more prosperous, the demand for a low cost, bare bones car for the sake of personal transportation. Tata’s Nano, Renault’s Logan and all manner of Chinese upstart brands have been filling the void in these up and coming locales, and now Toyota wants a piece of the action.

Toyota is apparently looking at producing a car to slot underneath the Yaris, which would retail for under 1 million yen, or $11,500. This car will be targeted at China and Southeast Asia in particular, with the aforementioned markets getting their own cars suited to local tastes. Toyota’s first emerging market car, the Etios, will be launched in India in late 2010, and future cars made for emerging markets will follow practices used by the Etios, like local assembly, which should cut costs dramatically.

[Source: Reuters]