Toyota Philippines targets sales of 2 M vehicles in 3 years

MANILA, Philippines — After achieving 1.5 million cumulative vehicle sales last month, Toyota Motor Philippines Corp. (TMPC) aims to hit the two million mark in at least three years.

Speaking at the media launch of the new Vios, TMPC president Satoru Suzuki said the company reached the historic sales milestone thanks to the country’s growing economy and rising purchasing power of individuals.

Suzuki said the company was also able to offer products which met the demands of the market.  Among these include the Avanza, Wigo, Rush and now, the Vios.

“Not only is the market good, but we brought in good new models and we also supported that with our dealership network,” he said.

For this year, TMPC expects sales to match last year’s 182,837 units.

Sales of TMPC reached 73,136 units as of the first semester, 14.7 percent lower than the previous year amid weak demand as the Tax Reform for Acceleration and Inclusion law, which imposed higher taxes on vehicles, took effect earlier this year.

While TMPC’s sales were down year-on-year in the first semester, Atienza said the new Vios is expected to help push higher sales in the second half.

TMPC aims to sell 3,500 units of the new Vios per month.

Available in 11 variants, the Vios is available at a price range of P659,000 to P1.11 million.

The new Vios is TMPC’s entry in the government’s Comprehensive Automotive Resurgence Strategy program which provides fiscal and non-fiscal support to participating car companies.

As the best selling passenger car in the country, TMPC has been manufacturing the Vios at its plant in Santa Rosa in Laguna since 2007.

Suzuki said the Philippines ranked the second highest in Vios sales with 36,733 units last year.

“Since its first introduction, we have sold a total of around 270,000 units,” he said.

TMPC introduced the Vios in the Philippines in 2003.