Codenamed EFC for Entry Family Car, Toyota’s Etios is its official small car, especially designed for an India launch at the 2010 Auto Expo in New Delhi with an attractive price tag of 5 ~ 6 lakhs INR ($12 ~15,000). It does not seem likely to have a US edition,  however, it will see global sales in emerging markets like Russia and Latin American countries.

To keep its cost low, the cars features include limited sound proofing, durable interior, basic seats and a single screen wiper. With a Diesel (1.4 litres) and a petrol powered (1.3 or 1.2 L) engine with speculations of two versions – hatchback and sedan, this car is certainly not a Tata Nano rival but it definitely will challenge similarly priced small cars like Maruti Swift, Ritz and Fiat Punto. Etios, which means “the origin of” will be manufactured using locally sourced parts and will try to be the most useful family car in India. Toyota has done extensive research and survey involving consumers from different cities, and a lot of time (4 years) and brains (4000 engineers) has gone into the research and development of this reality concept small car.

Toyota’s Indian venture with the Kirloskar Group – a staggering investment of 32 billion INR ($8 million) will set up a second manufacturing factory at Bangalore. The car will be ready to  roll out later this year or in early 2011. India is fast emerging alongside other developing countries as the new hub for global expansion of sales for auto giants. Toyota is expecting an annual sales of 70, 000 units of the Etios in the first year and hopes to rapidly accelerate and establish growth in the country in an otherwise slippery global meltdown situation from which there seems to be little recovery.