Toyota Launches New Sport Utility Vehicle in Japan

05/23/96

Toyota launched a new sport utility vehicle (SUV) into the Japanese market earlier this week. The company expects the new vehicle--called the IPSUM--to sell 10,000 vehicles a month and grab a sizeable chunk of the market away from Honda's Oddysey.

The IPSUM seats seven passengers in three rows of seats that can be arranged flexibly. Toyota has emphasized safety features in the new SUV: dual airbags and four-wheel anti-lock brakes have been incorporated as part of the standard package.

The new vehicle costs about 10% less than Honda's Odyssey, but follows the same overall design concept. The new car is expected to do Toyota well, and take a bite out of Honda's profits. Industry analysts have pointed out that Honda's minivan was principally responsible for the 53% rise in pre-tax profits that Honda saw during the last year.

Paul Dever -- The Auto Channel