Toyota has an unsurmountable lead in terms of new vehicle sales in the Philippines, capturing a 46.66 percent market share. Its 218,019 vehicles sold in 2024 was a new record, beating 2023’s 200,031 figure. More bad news for the competition? They have no plans of slowing down.
Toyota Motor Philippines chairman Alfred Ty shared that Toyota has managed to keep its “triple crown” of being the best-selling brand in passenger car, commercial vehicle, and overall for 23 consecutive years. Not only has this cemented the Philippines as one of the Top 10 largest markets for Toyota, but it has helped secure jobs for over 69,000 Filipinos and realize over a billion US dollars in exports. They have also helped the government realize 35 billion pesos in tax revenues.
This year, Ty is confident that the auto industry will be able to overcome market challenges thanks to election-related spending, a “relatively under control USD to Peso exchange rate,” and expanded remittances from overseas foreign workers (OFWs) and business processing operations (BPO) earnings. He projects that the industry, which counts not just players from CAMPI and TMA, but also from AVID and EVAP to hit 500,000 units—a steady growth of 8 percent from 2024’s roughly 474,000 units total (AVID and EVAP players included).
To keep Toyota’s momentum, Toyota Motor Philippines president Masando Hashimoto says a lot of attention will be centered around the next-generation Tamaraw.
“The Tamaraw carries on its heritage of being a true Filipino icon, and we plan to further that legacy throughout this year with the launch of additional conversions and additional services, catering to any and all customers. This is also in line with acquisition and value chain options, including 10% down payment, trade-in options, and Periodic Maintenance promotions. 2025 will truly be the year of the Tamaraw,” said Hashimoto.
Toyota will also further expand on its electrified vehicle offerings. Although the carmaker is mainly focused on hybrid electric vehicles (HEVs) for now, he hinted that the bZ4X and the new Urban Cruiser may “come sooner than you think.” This is on top of plug-in hybrid vehicles (PHEVs) as well.
Furthermore, the company will look beyond traditional sales to expand their business. In 2024, Toyota’s full-service lease, Kinto One, recorded 376 new contracts set, an all-time high. Although these were mostly signed with multinational companies based in the National Capital Region, they will expand their Kinto One program in 2025. Among the benefits include zero capital expenditure and a more stable cashflow for those opting for leasing.
Urban cruiser will be another block buster
ReplyDeleteIt's made exclusively in India so expect it to be more expensive than the Jaecoo EJ6
DeleteTMPC should really start selling the bZ4x and made in India Urban Cruiser EVs in the Philippine market at competitive prices
ReplyDeleteIt's a shame that they've already forgotten the AC100 New Generation Vios
Toyota is awesome.
ReplyDeleteNot really
DeleteThey still won't sell the New generation Vios in the Philippine market
Toyota vehicles in American market are suffering from various engine reliability problems
In an honest opinion, perhaps Toyota could try on rebadging Nissan's entry-level models just like when the former did the similar idea by marketing a badge-engineered Mazda 2 made in Mexico exclusive to the North American market, which is also given the fact that Suzuki and Isuzu are no longer available in the USA.
DeleteThis is the PR news that matters. Helping our country with more jobs and export revenues matters more than new dealerships and bragging about high tech features.
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ReplyDeleteBz4x already out in Indonesia and Thailand. I haven’t heard anything after launch. Perhaps Tesla’s arrival forced their decision?
Toyota is not really in the mood for making electric vehicles, to be honest.
DeleteToyota already have EV's, but for now prioritized europe which has big market for EV's. Toyota number 3 in norway for EV sales. Ph for now has very small market for EV's.
DeleteIts quite okay to have a diesel-powered car, but its not okay to have a EV and also hybrid, Japanese are too brave to make cars without ICEs.
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