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Toyota Philippines to roll out new IMV line-up

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September 23, 2008

Toyota Philippines to roll out new IMV line-up
Toyota Motor Philippines Corporation (TMPC), the country's leading automotive company, is set to introduce the new line-up of International Innovative Multipurpose Vehicles (IMV), which includes the Hilux pick-up truck, Fortuner compact sport utility vehicle (SUV), and Innova multipurpose vehicle (MPV) this October, reported government news agency PNA.

Toyota's IMV line-up will further reinforce the company's number one position in the commercial vehicle segment.

Since the IMV's introduction in 2005, Toyota maintained its commercial vehicles (CV) share above 34 percent.

Prior to the IMV's introduction, the CV market was dominated by Asian utility vehicles, predominantly by the Tamaraw FX Revo, then the country's best-selling automobile.

The CV market only sold 55,000 units annually and vehicle segmentations were limited. Three years after the introduction of the Hilux, Fortuner and Innova in late 2004 and early 2005, CV market size increased with sales of over 76,000 units by the end of 2007, and respective segments grew significantly.

TMP president Hiroshi Ito attributed the success of the IMV to its global package and is available worldwide, being sold in over 140 countries.

"They are all engineered with technologically advanced and fuel-efficient, Variable Valve Timing-Intelligent (VVT-i) for gasoline, and Direct Injection Common Rail (D-4D) for diesel," he said.

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