Toyota Spices Up Middle-Aged Corolla to Bolster Profits
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With Toyota Motor Corp. back on top as the world’s largest automaker, President Akio Toyoda isn’t looking to a relative youngster like the Prius hybrid to defend that lead. Instead, he’s counting on a middle-aged veteran: the 47-year-old Corolla.
Later this year -- the company hasn’t said when or where -- Toyota plans to introduce a revamped version of its global best seller, which last underwent a redesign in 2008. No launch is more consequential for Toyota this year as the Prius isn’t due for a major change until 2014 and a new Camry sedan came out only about a year ago.