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According to Overdrive magazine ,Toyota are currently working on an all new Innova and Corolla which will be launched around mid 2015.These two cars will be based upon all new platform and are at the moment being developed in Japan:
Link:All-new Toyota Corolla and Innova coming in 2015 - Overdrive
Toyota is presently developing an all new Corolla and Innova. The cars are being developed in Japan like the Etios was before being built in India. The cars will not just be redesigned but will be based on new platforms as well. Toyota has already shortlisted local suppliers for the project.
Sandeep Singh, deputy MD, Toyota Kirloskar Motors said that the company has no plans to launch new vehicles for the next two years but that it will continue to launch new variants within existing models. However he also acknowledged that they are working on the new Innova and Corolla but didn’t divulge any details on specifications or timelines. We expect the cars to debut sometime in mid 2015.