Toyota Motor Philippines (TMP) started the year on a strong note with 8,709 units sold in January, capturing nearly half of the car market based on the latest report from the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi).
According to the Campi report, Toyota vehicle sales increased 23 percent year-on-year in January, outpacing the industry’s growth of 19 percent and accounting for a 46.7-percent share of the market during the month.
TMP said the robust sales performance was due to the continuous high demand for its locally manufactured Innova and Vios models as well as other vehicles in Toyota’s lineup.
“It is encouraging that Toyota started the year strongly. Coming from a good performance last month, we are optimistic that demand will continue to be favorable because of the positive economic outlook and confident consumer spending,” TMP president Michinobu Sugata said in a statement.
TMP’s luxury brand Lexus recorded its highest sales in a single month with 67 units sold, making it the number one luxury brand in the market with a 91-percent growth compared to the same month last year.
“This only shows that there is more to come for Lexus this 2015,” Sugata said.