2003 4Runner joins Toyota's value-focused pricing strategy

TORONTO, Oct. 21, 2002- Toyota Canada Inc. today announced value- focused pricing for the all new 2003 4Runner, now available at Toyota Dealerships across Canada. 2003 Toyota 4Runner V6 models start at $39,100, while V8-equipped models start at $40,500.

The 2003 4Runner represents a full model change that features all new styling on a new chassis platform. With a longer wheelbase and wider track than previous models, the 2003 4Runner provides more interior space, while two new engines and advanced electronic control systems deliver improved vehicle dynamics, handling and braking.

"With this full model change, we've combined economies of scale with Toyota's smart engineering and manufacturing processes to offer Canadians quantum leaps in value," explained Mr. Tony Wearing, Vice-President of Sales and Marketing for TCI.

"We introduced our value-focused pricing strategy one year ago, with the completely redesigned 2002 Toyota Camry," Mr. Wearing observed. "Since then, we have extended this successful approach to other vehicles in the Toyota line. The bottom line is, now more than ever before, Toyota vehicles deliver top value for the money. What's more, Canadians will find that many of our most popular 2003 model vehicles carry price tags that are lower than the 2002 models they replaced."

Echo, Corolla and Camry: Even More Value

In particular, Canadian car-buyers enjoy even more value when shopping for the Echo, Corolla and Camry, which together account for almost 65% of Toyota Canada sales.

Earlier this month, the Toyota Echo was named the 2003 Carguide/Globe and Mail Best Buy Award in the Economy Car category for the second year running. And several 2003 Echo models carry suggested retail prices of almost $400 less than the equivalent 2002 vehicles.

The Toyota Corolla is not just the best-selling vehicle in history. Canadian-built Corollas are also two-time winners of the highest overall vehicle satisfaction score in the Canadian Automobile Association's Vehicle Ownership Survey in 2001 and 2002. Suggested pricing on 2003 vehicles include a $475 reduction on the base model Corolla CE and a $500 reduction on the 4-speed automatic Corolla LE compared to 2002 editions.

The best-selling Toyota Camry includes suggested list price reductions of $220 on the Camry LE 4-speed automatic equipped with an Anti-lock braking system (ABS) and Electronic Brake Force Distribution (EBD), and $515 off the Camry LE V6 4-speed automatic.

"Our sales record for these three models shows that Canadians consider Toyota vehicles to be good value for the money, and with new, lower prices on most detailing packages, these great vehicles just got even better," Mr. Wearing said.

Value Pricing on Toyota Trucks Too

Toyota also announced that suggested prices have dropped, year over year, for 2003 models of the popular RAV4 sport utility vehicle and Tundra full-size pickup truck. Select models of the 2003 Toyota RAV4 are listed at up to $1,240 less than their 2002 counterparts. Meantime, the Toyota Tundra -- winner of the 2002 J.D. Power and Associates Initial Quality Study for the full-size pickup category -- also features price breaks on selected 2003 models. With added value equipment, 2003 Tundra is up to $2,100 less than a similarly equipped 2002 4x2 model and up to $1,800 less than a 2002 4x4 model.

"Demand for these models continues to be strong, but that's no excuse to raise prices -- and in fact we've done just the opposite," Mr. Wearing noted. "Furthermore, other 2003 model/option package combinations often include additional features valued much higher than their cost -- giving Toyota customers more for less."