A baby SUV has already done the rounds on the rumour mill with sources stating the automaker will look to sell an optimistic 500,000 units of this particular body style every year.

Generally to save on development costs, many automakers take one of their existing platforms and look to modify it for use in all-new models. However there are the occasions when a brand new platform is required which send costs spirally out of control (think Volt).

This latter situation has arose for the brand new Toyota IQ which features a number of packaging innovations which chief engineer, Hiroki Nakajima says have been developed with a considerable cost. These include a new steering rack, a modified fuel tank, a more compact climate control unit, a repositioned engine and repositioned differential.

The Japanese giant expects to sell 100,000 units of the IQ in its first year, a figure that does not warrant a brand new platform. Therefore it only makes sense for the new platform to spawn other models in the not too distant future.

A baby SUV has already done the rounds on the rumour mill with sources stating the automaker will look to sell an optimistic 500,000 units of this particular body style every year. Now following a report by MotorTrend, the rumours have resurfaced, the platform is set to provide the underpinnings to new Hybrid model, the next generation Yaris and an all new MPV.

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Toyota IQ platform set to spawn new Yaris, MPV & Hybrid