Toyota launches new model to mark 50th yearTokyo, Aug 5 (AZINS) Japanese automobile giant Toyota Motor Corp on Friday introduced a new Corolla Axio Hybrid G "50 Limited" model, a special edition of its global best-seller to commemorate the 50th anniversary of its launch.

The model is currently exhibited at the Automobile Council Fair in Chiba till August 7 and will hit the showrooms on September 1, Efe news reported.

Based on the design of the current Corolla Axio sedan, the commemorative model will have a limited edition of 500 units exclusive to Japan, a Toyota official said.

The Corolla Axio Hybrid G "50 Limited", priced at $23,700, stands out for its red interiors, a nod to the first generation model launched on October 20, 1996.

The distinctive crown on the commemorative edition of the Toyota emblem is also a reproduction of the original.

Since the first model's launch, 43.6 million units of Corolla have been sold, 12.5 million in Japan and 31.1 million worldwide, according to the company.