Toyota announced the dissolution of Toyota Kirloskar Motor production as it introduced the new Innova Crysta occurred at its Bidadi facility in Karnataka India on March 14.
Based on the photos released on different media platforms, Toyota bid farewell on its first generation of Innova. In line with this, the Japanese based automotive industry planned to give way on its second generation Innova Crysta at the Auto Expo this year which was launched in Indonesia last year.
On a month-on-month basis, there has been more than 5000 units of Innova Kirloskar produced amid of being priced competitively due to the tight competition in the market.
Since the Toyota Innova entered the market in 2015, it has been considered as the top multi-purpose vehicle (MPV) in the Indian market. The Innova snatched the attention of the car users through its bomb-proof reliability, smooth ride and build quality and having a spacious cabin. It was later used as a taxi and a private passenger around India.
On the other hand, Innova Crysta will have a 2.4 liter oil burner and will have an improved version of the priors aesthetic and equipment levels, fuel efficiency and comfort. In response to the diesel ban in India, Toyota plans to make use of a 2.0 petrol engine.
Furthermore, Innova Crysta is expected to have features such as ambient lighting, touchscreen infotainment and auto climate control. If the plans of Toyota materializes, Innova Crysta will be market ready by May.
Meanwhile, Toyota introduced its Toyota-28 concept powerboat at the 2016 Japan International Boat Show. Toyota-28 has fiberglass composites such as a hybrid hull combining carbon fiber and a fiberglass. The engine options and prices of the new unit has not been publicized yet by the company, but it is set to enter production in the latter part of 2016.
Toyota addresses concerns on fuel cell cars
On Monday, Toyota announced its plans to make hydrogen with the use of the wind-power plant Ham Wing in Yokohama through the help of the cities of Yokohama and Kawasaki and with the help of Kanagawa government.
According to the reports released, the hydrogen will be compressed and carried by truck to power fuel cell forklifts at the respective sites in Yokohama including two factories, a factory and a vegetable-and-fruit market.
Shigeki Tomoyama, Toyota Senior Managing Officer, told the press that that clean hydrogen is the best fix for global warming and energy security, thus, a stable supply of CO2 free hydrogen is needed.
Aside from the government help, Toshiba Corporation and hydrogen company Iwatani Corporation and other Japanese electronics will participate in the project.
Toyota trades higher
Toyota Motor Corp Ltd changed hands higher by 0.98 percent at ¥6200.00 during the trading session with a market capitalization of ¥20.7 trillion. It opened in the session at ¥6,209.00 and had a session low of ¥6166.00 and a session high of ¥6,244.00.
The stock a price earnings ratio of 8.39 and a dividend yield of 3.63 percent. Toyota has an average volume of 10,851,166 and a 50-day moving average of $109.60. The 52-week high of the company stands at $145.80 and its 52-week low is at $102.54.
Currently, Toyota has a consensus rating of Hold out of nine investment analysts and an average price target of $114.87. However, Nomura restated its buy rating to Toyota Motor Corp with a price target of $48.00
Some of the institutional investors adjusted their positions higher in the stock which includes Cribstone Capital Management LLC., Ativo Capital Management LLC., Raymond James and Associates and FDx Advisors Inc.