Toyota unveils new Innova

January 28th, 2009 - 3:52 pm ICT by IANS  

New Delhi, Jan 28 (IANS) Auto major Toyota Kirloskar Motors Wednesday unveiled a face-lifted version of its multi-purpose vehicle (MPV) Innova, priced between Rs.766,000 and Rs.1.1 million (Rs.11.06 lakh).The new Innova will feature an upgraded front grill and front bumper along with modified tail lamps and parking sensors in the rear bumper, alloy wheels and a redone interior.

Toyota has so far sold 160,000 units of Innova since its launch in 2005 and holds 36 percent market share in the MPV segment. The segment posted 13 percent negative growth in 2008 when the company sold 44,000 units of the vehicle.

Managing director Hiroshi Nakagawa said the company was expecting the revival of the automobile market by the middle of this fiscal, and holds firm its target of achieving 10 percent market share by 2015.

The proposed launch of Toyota’s small car by 2010 will boost the company’s market share, he said.

Toyota last year announced its plans to launch a compact in the Indian market by 2010.

The new Innova will also be available in CNG variant, which will be costlier by Rs.90,000 than other variants.

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