Toyota posts record sales

MANILA, Philippines - Toyota Motor Philippines (TMP) posted record sales in July, selling a total of 6,258 units.

In a briefing yesterday, GT Capital president Carmelo Bautista said TMP’s all-time high sales came two months after the company sold a record 5,977 units in May.

Bautista attributed the record performance to the Toyota Vios. TMP remains on top of the commercial vehicle segment, locking in a 33.6 percent of the automotive market, which has been growing 10.5 percent in the past few years.

He said TMP performed well in the first half with net earnings growing 35.3 percent to P1.5 billion on the back of a 31.5-percent jump in revenues. Volume improved by 17.7 percent.

To sustain its growth, TMP expects to clinch 43 new dealerships until 2013. It also plans to launch new models of Prius, Avanza, Landcruiser, Innova and Camry.

The locally manufactured Innova model remains the best selling multi-purpose vehicle in the country. Other models like the Fortuner, Avanza and Hilux models likewise posted significant gains.

Meanwhile, car sales may reach higher than initially expected as good economic conditions support demand and purchases, officials of auto firms said.

Toyota Motor Philippines Corp. (TMPC) vice president Rommel Gutierrez told reporters at the sidelines of the 4th Philippine International Motor Show yesterday that given favorable economic conditions, the firm has raised its sales projection for the year.

“Earlier, we were looking at (sales of) 60,000 units for this year but we see that we can do more than 64,000 units,” he said.

He said that growth in the firm’s car sales is seen to come from purchases of the Innova and Vios models which are assembled in Toyota’s plant in Sta. Rosa in Laguna.

Toyota sold 54,593 units last year.

Suzuki Philippines, Inc. president Satoshi Uchida told reporters in the same event that the firm has also revised its sales projection this year amid strong domestic economic growth.

“Our initial (sales) target was 5,000 units. Now, we are looking at 5,500,” he said.

Suzuki’s sales last year reached 4,000 units.

Tatsuya Natsume, Honda Cars Philippines Inc. president and general manager said in the same event that while they are sticking to their sales projection of 16,000 units this year, strong demand for cars may lead to actual sales exceeding the target.

“The Christmas season is seen to boost sales,” he said.

Honda sold 11,611 units in 2011.