Toyota Innova relaunched at a starting price of Rs 12.45 lakh - Economic Times ~ Electronic Gadgets

MUMBAI: In a bid to boost sales of Innova, its flagship model, Toyota Kirloskar Motor on Saturday launched a new version of its best selling multi-purpose vehicle.

The new facelifted version will be available at Rs 12.45 lakh to Rs 15.06 lakh (ex-showroom New Delhi) to kick start sales during the festive season.

The new Innova comes with a marginal price hike of Rs 10,000 to Rs 15,000, and sports a new front grille, and chrome lined fog lamps among other features.

Hiroshi Nakagawa, MD & CEO, Toyota Kirloskar Motor said, "Toyota is constantly focused on developing our products based on the feedback we receive from our customers. The Innova being one of our flagship brands enjoys a patronage of over 4 lakh happy customers and has many accolades to its credit. We believe with the introduction of the new Innova, the ownership experience of our customers will be further enhanced."

After growing by a whopping 33.92% in FY-13 with sales at 77,062 units, the sales of Innova dropped sharply by as much percentage points of 33.34% in April to August period to 22,124 units, as against 33,194 units, sold in the same period last year.

All New Innova (Diesel)Grade Wise Prices, Ex-showroom Delhi
2.5 Z 7 Seater	Rs. 1,50,6718/-
2.5 VX 8 Seater	Rs. 1,45,7780/-
2.5 VX 7 Seater	Rs. 1,45,3136/-
2.5 GX 8 Seater	Rs. 1,25,0366/-
2.5 GX 7 Seater	Rs. 1,24, 5604/-

The drop in Innova sales is in line with the bigger utility vehicle segment (4400 mm-4700 mm priced above Rs 8-15 lakh), which fell 20.81% in April to August to 81,491 units when compared to 1,02,916 units sold in the same period last year, this is on account of rising diesel prices and increased excise duty by the government on utility vehicles in this year's budget.

The number 1 MPV (multi purpose vehicle) in the country now comes with an additional premium grade Z variant as well, which comes with body graphics, sporty rear spoiler and premium interiors with wood finished gear knob, wood panel dashboard and leather seats.

There are 4.3 lakh Innovas on Indian roads today. Toyota would expect the new Innova to stem the slide in sales, which has fallen 27% in April to August period to 53,562 units. The sales slide for Toyota has been steeper than the market, resulting in the company's market share falling from the peak of 7.03% in April to August of 2012 to 5.44% in April to August of 2013.

Sandeep Singh, DMD & COO, Toyota Kirloskar Motor said the Innova has been an undisputed market leader in its segment and has carved a niche for itself over the years. The Innova being its flagship brand is one of the most successful products that Toyota has to offer to the Indian market.

"The new Innova is further heightened by luxurious styling in combination with sporty looks and is aimed at providing more comfort, style and prestige that enhances its versatile nature. We are extremely delighted to introduce this new offering to our customer during this auspicious festive season," added Singh.

The company claims the new Innova boasts of a whole new set of features which is available in options of a seven & an eight seater in both Euro III & Euro IV.

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