The hatchback model, to be launched in April 2011, would mark Toyota's first entry into the Indian mass market.
Toyota Kirloskar a joint venture between the Japanese carmaker and the Indian Kirloskar group, together they will be promoting the Etios in India.
"Today we launched the sedan Etios and the hatchback following within a couple of months, we will officially launch. Put together sedan and hatchback we are expecting 70,000 number of production in the year 2011," Nakagawa said.
Toyota President Akio Toyoda, who was present at the launch, said, "both the models have been rigorously tested on Indian roads, covering nearly 200,000 kilometers across the country's rugged terrain and dusty roads."
"We at Toyota say that the road makes the car, and the Etios is a product of real world testing on roads throughout India. We have driven the Etios across more than 200000 kilometers of Indian roads," Toyoda said.
The 1.5 liter gasoline powered Etios sedan has been competitively priced at Rs 4.96 lakh for the base variant at showrooms in New Delhi. The top-end version will cost Rs 6.86 lakh.