Spy photographers have spotted VW's upcoming Taro pickup truck while out doing some cold weather testing. While the truck pictured appears to be a Toyota Hilux Double Cab, its registration indicates that the vehicle is actually registered in Brunswig, Germany — a city located near VW's headquarters and a common licensing local for VW test vehicles.

While the registration doesn't explain why the truck is wearing the body of a Toyota, there are two theories as to why the Taro is dressed as a Hilux.

The first theory is that VW will simply re-badge the Toyota Hilux and seel it as the VW Taro. The two companies had a similar deal in the late 1980s and early 1990s. However, Volkswagen Chairman Martin Winterkorn has stated that Volkswagen would build and sell its own small pickup, so it remains unclear if VW would even be interested in badge engineering.

The alternative theory is that VW is simply keeping its Taro body secret, and using the shell of the Hilux for early testing.

Whatever the case, the new Volkswagen Taro is expected to launch in late 2009 in Europe and South America. It remains unknown if the Taro will make it to the U.S., but with VW eying 800,000 annual U.S. sales by 2018, its definitely a possibility.