Toyota's popular MPV, the Innova is undergoing an overhaul and the test mules have also been snapped a couple of times in India as well as Thailand. While the launch of the new model is expected to take place in the year 2016, the unveiling might happen in 2015.
Speaking to reporters, Mr Michinobu Sugata, president, Toyota Motor Philippines Corp (TMPC) disclosed that the company is planning to spend around 2 billion pesos to intensify parts localization of modified Innova. Around 50 per cent of the investment will be used in localisation of pressed parts. At present even the pressed body parts are imported from Thailand, however the company eyes increasing localization to over 30 per cent for the upcoming version.
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Rumour has it that the new Innova will be bestowed with Toyota's new family of diesel engines. Besides this, among the new additions an automatic gearbox could also be offered on the diesel variant.
Ruling the MPV segment in India for long the MPV faced stiff competition from Maruti's compact MPV, Ertiga. Currently, the MPV segment has a couple of new options such as Nissan Evalia, Chevrolet Enjoy and the recently launched Honda Mobilio. However as far as the new Innova is concerned, its arch rivals in domestic market will be Maruti Ertiga and Honda Mobilio. We expect the new Innova range to start from Rs 9 lakh and go up to Rs 15 lakh for the top end version.
