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Toyota reveals 4 new models of its Crown range

Last Friday, Toyota Motor Corp (7203) revealed four new models of its Crown range, including a sport-utility vehicle for the first time.

Toyota will sell the 16th generation of the Crown outside Japan for the first time in earnest, as it intends to reach nearly 40 countries.

“The Crown was a symbol of Japan’s affluence and Japanese pride. It was also a car that brought together Japan’s world-class technology and human resources,” Toyota’s President Akio Toyoda said during a presentation.

“Customers from around the world will now get a chance to drive this historic Japanese nameplate born out of passion, pride and progress,” Toyoda added.

The four new models include a sedan, a SUV, a station wagon and a crossover (that combines features of a sedan and a SUV). The crossover model will be available as a hybrid, Toyota said, while the powertrain of the other models has not been decided.

According to Hiroki Nakajima, president of Toyota’s mid-size vehicle company, the models will be launched over the next 18 months.

The shares of Toyota Motor Corp closed higher for a third consecutive trading session in Tokyo on Friday. It has also been the sharpest single-session gain since July 11th. The stock went up 1.31% (JPY 28.0) to JPY 2,163.0, after touching an intraday high at JPY 2,163.5. The latter has been a price level not seen since June 29th (JPY 2,168.0).

The shares of Toyota Motor Corp have risen 2.73% so far in 2022, following another 32.30% gain in 2021.

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