The Japanese automaker announced that the Innova is out of stock and will be discontinued due to "changes in product strategy". The MPV no longer appears on Toyota Vietnam's website.

The previous generation Innova MPV. Photo: TMV

The previous generation Innova MPV. Photo: TMV

Previously, Toyota Vietnam sold the Innova and Innova Cross concurrently. The Innova, built on a ladder-frame chassis and priced at 755 million VND, was geared towards commercial use. The Innova Cross, a newer model with a unibody construction like urban crossovers, targets families.

Over the past seven months, Innova sales have been modest, with only 232 units sold, the lowest in its segment. The Innova Cross sold 4,162 units. This figure surpasses most B-segment MPVs but falls short of the Mitsubishi Xpander (9,740 units) and higher-segment MPVs like the Kia Carnival (5,938 units).

The Innova MPV was once considered the epitome of durability for commercial drivers and large families in Vietnam. However, competitors like the Mitsubishi Xpander, with its modern design, technology, and safety features, diminished the previous-generation Innova's appeal. To keep up with market trends, Toyota introduced the new-generation Innova Cross to the Vietnamese market in 10/2023.

Launched in Vietnam in 2006, the Innova quickly became the best-selling MPV for many years, especially in the commercial vehicle segment, thanks to its durability, spaciousness, and reasonable operating costs. Innova sales peaked in 2018 with over 14,500 units.

After this peak, the Innova's popularity waned as consumer preferences shifted. Instead of traditional large MPVs, customers preferred smaller, more affordable MPVs that offered better fuel economy and urban maneuverability, like the Mitsubishi Xpander and Toyota Veloz. Electric vehicles have also become a popular choice for commercial services due to significantly lower operating costs and reduced maintenance compared to gasoline-powered vehicles.

Ho Tan