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The 4.0-liter V6 adds Dual VVT-i which improves horsepower, torque and fuel economy
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Toyota 4Runner - Wikipedia, the free encyclopedia
According to that page, the fifth-generation 4Runner only had the 2.7-liter in 2,010, which had 157 horsepower, while the third-generation had 150. The 1,997 was rated 18/22, while the 2,010 was rated 18/23, so yes, the engines were both more powerful and more efficient, albeit slightly, but the 4L has 270 horsepower! With slightly more horsepower per liter, they might have traded economy for power.