PH is 10th biggest market for Toyota

The Philippines is the 10th biggest market for Toyota globally, the local distributor’s leadership announced.

During its 35th anniversary celebration, Toyota Motor Philippines (TMP) Chairman Alfred Ty shared that as of the middle of 2023, the leading local automotive manufacturer has already delivered 2.24 million units to customers nationwide.

To recall, the two-million-unit sales milestone was reached as of March last year. Based on the recent CAMPI-TMA data, its year-to-date sales for January-July 2023 was already 110,158 units — cornering the lion’s share of the market at nearly 46 percent and continuing to retain the title as the country's best-selling automotive brand in the country.

Meanwhile, Toyota Motor Corporation Chairman Akio Toyoda, who graced the event, was elated with TMP’s performance.

 

“I must tell you how very important the Philippines is to us at Toyota because even though it may not be the biggest country we sell cars in, your sales volume is actually Toyota’s 10th highest in the entire world — which is pretty amazing if you ask me,” Toyoda said.

Ty also shared that amid numerous challenges, TMP and the Toyota Group have cumulatively invested P73.7 billion since 2000. The Group has paid duties and taxes of P448 billion and exported $18.76 billion worth of auto parts and components since 1997.

Further, TMP also offers the most options in terms of new-energy-vehicle mobility solutions — the latest one with launch of the Yaris Cross early this month.

“From a practical viewpoint, (I think) we should keep as many options as possible so we can seamlessly pursue our goal of sustainable mobility,” Ty said. “We will make sure that when we transition to full-electric vehicles, we are able to preserve jobs in our factory and assure our customers that they will have peace of mind – and fun – using their electrified vehicles.”

“Electrification is the way to the future. I am encouraged by the moves of the government to enable a more rapid pace of adaptation,” Ty added.

Photos from Ruben Manahan IV

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