New Toyota Tamaraw rolling out in Q3

MANILA, Philippines — Toyota Motor Philippines is planning to roll out the next generation Tamaraw in the third quarter.

“The big story for us in 2024 is, of course, the planned introduction of the next generation Tamaraw,” TMP chairman Alfred Ty said.

“This is very much aligned with the program of government to expand manufacturing activity in the Philippines,” he said.

Ty said the rollout of the new Tamaraw would create jobs, support local parts makers and provide small businesses with a viable and sustainable mobility solution.

“Your support in championing this game-changing model will also champion the cause of a better life for Filipinos,” he said.

In August last year, TMP announced a P4.4-billion investment for the production of the next generation Tamaraw in Sta. Rosa, Laguna.

“This new model represents a whole new range of mobility solutions that will enable Filipinos to move their lives forward. It will enable new levels of flexibility for users, especially our MSMEs,” Ty said earlier.

Meanwhile, Ty said Toyota’s sales reached new high in 2023, shattering the 200,000-unit barrier.

Data from the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed that Toyota remained the market leader in the country last year, with a 46.54 percent market share as it sold 200,031 units, higher than the 174,106 units it sold in 2022.

Apart from the Toyota brand, Ty also shared the higher sales of Lexus brand in 2023.

“I am very encouraged, too, that the luxury market continues to grow. In 2023, the market expanded by 37 percent to 4,396 units with the share of Lexus climbing to 42 percent,” he added.

“What this tells me is that the Filipinos are on their way to a higher quality of life and standard of living, in line with the government’s goal of making the Philippines an upper middle-income society. Moving forward, there is much to be excited about,” he said.