The number one car company in the country has reached its highest monthly sales record registering 10,163 units last October. This is the first time any local car brand experienced such performance in terms of vehicle sales. On a year-to-date basis, Toyota Motors Philippines Corp. (TMPC) has registered a growth of 41.92% versus the previous year selling a total of 86,794 units and already surpassing its 2013 sales level. Likewise, TMPC’s YTD market share now stands at 45.2% for the first 10 months of 2014.
In addition, Toyota maintains its lead in the Passenger Car Segment with 35,163 units sold, driven by the higher buying power of consumers who require more affordable and practical vehicles such as the locally manufactured Vios and the newly introduced hatchback Wigo. On the other hand, the continued strong demand of its Commercial Vehicles with sales of 51, 629 units YTD can be attributed to the growing requirement for vehicles from various business sectors.
“The continued robust economy has given us the momentum to achieve this sales milestone. Toyota has also foreseen the market demand to be strong before the long holidays and took action by ensuring supply of vehicles to meet the requirements of the consumers during this period.” TMPC president Michinobu Sugata said.
“Both the Toyota Vios and Innova continue to be the most important models in its line-up as this comprises close to 40% of TMP’s sales. Therefore, if an acceptable auto road map can be in place soon, this will further boost demand for locally assembled vehicles and support motorization in the Country,” Sugata added.
On a year-to-date basis, the total industry has already reached 192,005 units, growing by 30% vs that of 2013 (January-October). With a steady GDP growth of 6.4%, all car brands are expected to take advantage of this favourable market trend for the rest of 2014.