By Ira V. Panganiban
Following the challenging year 2018 for the Philippine automotive market, the industry finished 2019 strong with 2.4% growth rate with a solid last quarter performance from most of the industry players. Leading the industry, Toyota Motor Philippines (TMP) finished 2019 with a 39.5% market share.
“As industry leader, it is Toyota’s role to drive the industry back to sustainable growth. We will continue to be this country’s solid partner in nation-building. In fact as of end 2019, TMP has paid a total of PHP 384.3 Billion cumulative taxes since the start of our operations,” expressed TMP Chairman Alfred V. Ty.
As the industry leader, TMP worked extensively to stimulate the market by initiating customer service and value-added activities. This resulted to total sales of 162,011 unit or 39.5% share of the market for 2019. Strengthening its support to the local automotive industry, 54,028 of the units sold were produced locally in TMP’s Sta. Rosa manufacturing plant.
“Despite the downturn of 2018, Toyota Motor Philippines maintained its workforce of 2,195 Filipinos, on top of those employed by its network of 71 dealers nationwide,” added Ty.
TMP’s locally-assembled flagship passenger car, the Toyota Vios, which is entered under the Comprehensive Automotive Reform (CARS) program, remained as the country’s best-selling vehicle with 33,181 units sold. This puts Toyota on track to deliver its commitment under the program.
Sherwin Chualim, First Vice President for Marketing Division went on to say, “we sincerely appreciate the motoring public for their trust and confidence in Toyota throughout the years.”
Get to know more about TMP by visiting their official website www.toyota.com.ph or check out Toyota’s official social media pages at ToyotaMotorPhilippines (Facebook and Instagram), and @ToyotaMotorPH (Twitter).