Refuting all reports of bringing a low cost car brand to India, the Japanese car maker has condemned all reports suggesting that it will be selling around $6,000 (Rs 3.30 lakh) car in the country. Currently, Toyota’s entry level car in India is Toyota Etios Liva that is priced at Rs 4.09 lakh and thus with this India’s hopes to have a car to be put under Etios Liva seems to have gone with the wind. Notably, India has been expecting some miracle from car makers to launch a premium car that is priced under Rs 3 lakh but its hopes seems to remain a hope forever.

Recently, a media report has erroneously mentioned that Toyota will be launching a small car priced under Rs 3 lakh in India by 2016. The report also suggested that the car maker will be bringing in a new brand for this purpose to take on Maruti Alto, Hyundai Eon, Hyundai Santro, Chevrolet Spark and other similarly priced small cars in India. As per the report Toyota was believed to increase its market share in the country by bringing in the low priced small car. This will help Toyota avoid devaluing the brand, the report said.

The reports was believed to be true in the industry despite of being propagated without any official statement by Toyota as every car maker in India eyes to bring in a car targeting the most affordable car market that is the widest as well. Meanwhile, Toyota’s statement against the said assumption has put brakes on far guesses that any small and low priced car could come out of Toyota stable. However, Toyota has said that it plans to increase its current 40 percent sales from emerging markets to 50 percent in the next three years but it is true that the car maker will not take the ultra low cost car route to bulge its sales.