The Indian MPV market leader Toyota Innova is getting strong market competition recently. The MPV market is really lucrative in India, and that is why a whole lot of car majors are planning to launch their new MPVs in India. The newly launched Honda Mobilio MPV is already a massive hit and it is thought to eat into the high demands of the larger Innova as well.
Toyota Motor thus, is preparing itself beforehand to deal with this raising competition. The MPV segment is also very hot in the international markets as well, and the Innova being one of the bestselling models from the house of Toyota has a lot of importance for the company. There had been quite recent reports about Toyota working on all new Innova as well as the all new Fortuner. However, while the next-gen Toyota Fortuner SUV which is also the bestselling premium SUV in India is expected to launch in India sometime towards the end of next year, the next-gen Innova was said to be launching sometime in the year 2016 in the Indian car market. However, now it is revealed that the all new Innova too might land up in India as soon as next year.
The very popular Toyota Innova MPV is now being worked on full speed by Toyota and the vehicle’s test prototype models have also been spied on several times both in India as well as on the roads of Thailand. It is now being said that the all new Toyota Innova might be introduced to the various car markets by the year 2016, while the actual market launch is expected to happen in early 2016. However going by the fast forward actions of some auto makers, Toyota too might speed up the process of bringing in the all new Innova, especially in India where the market competition will further increase within a couple of years.
While speaking to the media, the president of Toyota Motor Philippines Corp. Mr Michinobu Sugata, revealed that the company is contemplating to invest around a hefty 2 billion pesos to increase the parts localization of the new Innova. About 50 percent of this huge investment will be used in increasing the localization of the pressed parts now. Currently even the pressed body parts of the Innova MPV are being imported from Thailand, while Toyota is planning on increasing the localization to more than 30 percent for the upcoming version of the vehicle.
It is speculated that apart from completely overhauled exterior and interior designs, the all new Innova will be also housing Toyota’s newly developed range of diesel engines. Apart from this, Toyota is also expected add an automatic transmission gearbox on the diesel variants of the next-gen Innova.
So far the undisputed ruler of the Indian MPV segment The Toyota Innova is getting tough competition from the Maruti Ertiga compact MPV, Honda Mobilio Nissan Evalia and Chevrolet Enjoy. The next-gen Innova is expected to be priced at Rs. 9 lakh to Rs. 15 lakh.