Toyota Etios
Toyota Etios to be priced around 525,000 rupees Company Handout

Toyota is all set to launch its most ambitious car in India - Etios at an aggressive ex-showroom, New Delhi, entry price of 525,000 rpees ($11,498.06), according to reports.

The carmaker's seriousness with Etios, for which it has invested 32 billion rupees on a new plant near Bangalore with an annual capacity of 70,000, can be gauged by the fact that the entry-level sedan will be launched by Toyota's global president Akio Toyoda.

Powered by a 1.5L petrol engine, Etios will take on competition from cars like, Tata Indigo, Maruti Dzire and Honda City.

Toyota India, Deputy MD, Mr Sandeep Singh said, The exact price will be known on December 1, when we launch the car. Deliveries for the model will begin in January.

Toyota has sold around 67,000 units this year in India and by December 2010 end that figure is expected to cross 73,000. In 2011, Toyota aims to double its sales figures, courtesy Etios.

The caramaker sold 6,602 units in October 2010, up 17 percent as against 5,650 units in October 2009. Toyota Motors manufactures various other models such as Corolla Altis, Innova and Fortuner in the country and sells imported vehicles such as Camry, Prado, Land Cruiser and Prius.