Mumbai: Toyota Corolla, probably the most popular car universally, will be launched in India in mid-January 2003.

Sources at Toyota Kirloskar Motor (TKML) say the company is launching the Corolla 2003, which debuted in Japan in September 2002, in India in three versions to cater to a wide variety of potential buyers.

The premium version of the car is the 1.8g, with auto transmission and features such as airbags for driver and passenger, six CD changer and leather upholstery while the 1.8e is a mid-segment car with manual transmission and features other cars in the segment sport. The stripped-down version of the Corolla is the 1.8j, with manual transmission, which will cater price-conscious buyer in the midsize car market.

The sources add: “Prices for the Corolla will range from Rs 13 lakh for the premium product to just above Rs 9 lakh for the stripped-down car. The company wants to be present in all the auto segments as to target the entire range of buyers from the Hyundai Sonata and Honda Accord in the premium segment to Octavia in the mid-segment and Honda City and Lancer at the lower end.”

The company plans to import an initial batch of approximately 2,000 units of the Corolla from its Thailand plant in a completely knocked down form to fulfil initial demand requirements and plans to begin manufacturing the car at its Bidadi plant by March 2003.

The Toyota Corolla is one of the most popular cars in international markets. It has occupied the top slot for a record 34 years in Japan and the last eight years in the US market.

“The company hopes to sell approximately 12,000 units in the first year itself,” the sources say. “We are right now in the midst of a Rs 300-crore investment programme in India.”