Following the launch of the all new Toyota Wigo, it seems that Toyota Motor Philippines is showing their commitment to the hatchback segment with the imminent launch of another trunkless model: the all-new 2014 Toyota Yaris.

A source within Toyota Motor Philippines Corporation has just relayed to AutoIndustriya.com that the all-new Yaris, the hatchback brother of the Vios, will be launched very soon.

We asked for more details as to what the specs and pricing will be like for the all-new Toyota Yaris but it seems there are still plenty of things being planned and decided. Our contact shared the following information; mind you, this is all still tentative of course.

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1) Launch date is set for April 2014

2) 1.3-liter and 1.5-liter engines to be available

3) 1.3-liter version planned to have manual and automatic transmissions

4) 1.5-liter version may have automatic gearbox only

5) Yaris will be built in Thailand, takes advantage of AFTA

6) Target price range for the Yaris may be slightly under the current Yaris

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From that information, Toyota appears to be planning 3 variants of the model. If we were to venture a guess, the line-up would be the Yaris 1.5G AT as the top spec model, followed by a Yaris 1.3E AT and a Yaris 1.3E MT. The engines and transmissions will likely be similar to the ones found in the Vios line up (4-speed auto and 5-speed manual).

What's unusual is that Toyota Philippines has not opted to bring in the Thai-spec 1.2-liter with the CVT. Our source said that a Yaris 1.5G with a manual is unlikely, but the jury is still out on that one. Expect specs to mimic that of the current Toyota Vios.

(UPDATE: it seems that there was a miscommunication regarding the very preliminary information relayed to us regarding target pricing, so here's the more accurate version)

Our source also stated that the pricing for the new Yaris would be more competitive than the current generation. Whether that means that the pricing for the entry level variants of the Yaris will start at a lower price (more likely) or whether the top spec Yaris will be cheaper than the current Yaris 1.5G (unlikely) is anyone's guess. Generally speaking, a full-model change is typically priced slightly higher than the outgoing generation, though the introduction of more entry-level variants (the previous Yaris was just offered in G grade) would increase the Yaris's potential as a top selling hatchback in the market.

So, what do you think of the 2014 Toyota Yaris?