Toyota Motor has no intention of offering ultra-cheap cars to boost sales in emerging markets and will keep its focus on customers who expect a certain level of reliability, the company's president, Akio Toyoda, said on Thursday.
Toyoda's comments come days after rival Nissan Motor announced the revival of the Datsun brand to target buyers in the lowest and sizeable end of developing markets, while a German magazine reported Volkswagen was also planning a similar move.
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