Key Highlights :
     Toyota Motor Korea on Monday launched its flagship Crown crossover vehicle as it looks to bolster its product lineup and increase sales, which have been weak for years due to the trade tension between Seoul and Tokyo. The Crown crossover utility vehicle (CUV) comes with two power trains, one with a 2.4-liter dual boost gasoline hybrid engine and the other with a 2.5-liter gasoline hybrid engine.
     This is the first time that the Crown CUV has been added to Toyota's lineup in Korea, joining other popular models such as the Camry sedan, RAV4 gasoline hybrid, RAV4 plug-in hybrid electric vehicle, Sienna gasoline hybrid van, GR Supra and GR 86 gasoline-powered sports cars. Additionally, the gasoline hybrid Prius will be added soon.
     The 2.5-liter Crown model sells for 57 million won ($43,000), while the 2.4-liter dual boost Crown model is priced at 65 million won. Despite the launch of the Crown CUV, Toyota Korea's vehicle sales fell 1.4 percent to 629 units in May from 638 a year earlier. From January to May, however, its sales jumped 35 percent to 3,012 from 2,237 during the same period of last year, according to the Korea Automobile Importers and Distributors Association.
     The weak sales are largely attributed to the trade tension between Seoul and Tokyo. In July 2019, Japan tightened regulations on exports to South Korea of three high-tech materials critical for the production of semiconductors and displays. In August, Japan also removed South Korea from its list of countries given preferential treatment in trade procedures. South Korea viewed the moves as retaliation against 2018 Supreme Court rulings here ordering Japanese firms to compensate South Korean victims of forced labor during Japan's 1910-45 colonial rule of the Korean Peninsula.
     With the launch of the Crown CUV, Toyota Motor Korea is hoping to reverse its sales decline and increase its market share in the Korean automotive market. With its hybrid engine powertrains, the Crown CUV is sure to be an attractive option for Korean consumers looking for a reliable and fuel-efficient vehicle.