Toyota on Wednesday announced that it would launch its Etios Liva on June 27 in Delhi.

The Etios Liva would mark Toyota's entry into the highly popular premium hatchback segment.

"Stylishly designed for today's youth, Etios Liva will be competitively priced and will offer functionality and value for money," the company said.

The car may be priced between Rs 400,000 and Rs 500,000.

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The company had earlier deferred its launch from April to June.

The decision was taken to reduce the long waiting period resulting from the overwhelming response received for the Etios, it added.

"Keeping the target customer in mind a slew of youthful and fun filled activities have been lined up as a part of the marketing campaign.

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"The show stopper is the TV ad campaign, which will feature music composed by the music maestro A R Rahman," the statement said.

The concept vehicles of Etios and Etios Liva were first unveiled at Auto Expo last year in Delhi and later travelled to across the country with the 'Toyota Q-World' reaching out to more than 100,000 prospective customers, Toyota said.

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"The Etios has been very well received by our customers across the market. We have delivered more than 20,000 cars as on date," Toyota Kirloskar Motor DMD Marketing Sandeep Singh said.

"We have successfully reduced the waiting period to less than one month by undertaking necessary steps to increase the production. We look forward to a good response for the Etios Liva. Details will be announced at the time of the launch," he added.