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TOYOTA Motors Philippines Corp. is eyeing double-digit growth this
year, the company’s top executive said.
Hiroshi Ito, Toyota Philippine president, said
the company is aiming to increase its overall sales by 10 percent.
According to data released by the Chamber of
Automotive Manufacturers of the Philippines Inc., the Japanese
carmaker continued to corner the biggest market share with full-year
sales at 45,091, or 38.24 percent of the total, besting Honda Cars
Philippines Inc. and Mitsubishi Motors Philippines Corp., both of
which had sales of 17,321 and 15,005 units, respectively
Toyota aims to reach the one million sales mark
in less than a decade, after selling half a million units as of
2007, the executive said.
“Given the robust economy and healthy gross
domestic product record, Toyota Philippines is confident to beat the
1 million sales before 2018,” Ito said.
Ito said that if the carmaker could sell at
least 50, 000 units every year starting in 2008, the one million
milestone will be achieved before 2018.
“The Philippine market for cars will
definitely grow with these important elements in place, and [we] at
Toyota will continue to do better to further get a bigger chunk of
the market,” he said.
Although the Philippines is relatively a small
market compared with Thailand and Indonesia, both of which have big
populations, Ito said the local market for cars is more mature.
“Filipinos look for a sophisticated, reliable and practical car,
and that is what [Toyota] could offer to [them],” he said.
-- Katrina Mennen A. Valdez
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