What kind of pricing can we expect from the 2023 Toyota Innova?

by Anton Andres | Nov 22, 2022
2023 Toyota Innova Modellista
PHOTO: Toyota
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The third-generation Toyota Innova was one of the biggest global premieres of 2022. It’s certainly one that most weren’t expecting, since the first-generation model lived for well over a decade. The all-new model is a huge leap forward in terms of design, engineering, and even powertrains.

That got us thinking: how big of a leap is it in terms of price? Given how much of a clean-sheet redesign this is, are we going to be in for a price shock? Let’s take a look at the prices in Indonesia.

Toyota Innova 2023

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But first, let’s look at the Innova variants offered in Indonesia. Over there, the non-hybrid range kicks off with the 2.0 G, followed by the 2.0 V. If you want to go hybrid, that starts with the 2.0 G HV, then the 2.0 V HV, and topped off by the 2.0 Q HV.

The 2.0 G retails for 419,000,000 Rupiahs, while the 2.0 V starts at 467,000,000 Rupiahs. Don’t be intimidated by the huge numbers, though. At the time of writing, the exchange rate for Indonesian Rupiah (Rp) to Philippine Peso sits at Rp1 to P0.0037. That means the entry-level Innova starts at P1,532,363, and the 2.0 V at P1,707,908 based on current rates. Of course, Philippine prices will vary and depend on local taxes and tariffs.

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Toyota Innova hybrid

That’s the gas-powered variants covered, but what about the hybrids? Let’s start with the 2.0 G HV at 458,000,000 Rupiahs, which is roughly P1,674,993. Moving up to the 2.0 V HV, that’s 522,150,000 Rupiahs, or about P1,909,602. Last but not least, the top-spec 2.0 Q HV at 601,150,000 Rupiahs. Converted to local currency, you’re looking at approximately P2,198,520. Again, local prices can either be higher or lower than the ones seen in Indonesia.

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Before you gasp at the sticker shock, there are a couple if things to notice here. For starters, the J and E variants are no more, at least for the Indonesian market. It would be interesting to see what pricing will be like if those two lower-spec variants hung around. At the same time, the current Innova G AT (albeit a diesel) currently retails for P1,632,000. If Toyota Motor Philippines can keep it that way, or even lower it, then that could sway more people towards the crossover-fied Innova.

Toyota Innova 2023

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But there’s another hurdle the next-gen Innova has to face. Can it convince the die-hard diesel Innova crowd to even consider this all-new model? Of course, we won’t know the answer until it gets released here. It certainly ruffled more feathers with by shifting to a car-based platform and the addition of hybrid power. Either way, expectations are riding high for this model.

No pressure, Toyota.

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PHOTO: Toyota
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