Toyota sees 10% sales recovery by 2019

MANILA, Philippines — The country’s top vehicle seller Toyota Motor Philippines Corp. (TMPC) expects sales to rebound with a 10 percent growth next year in line with the recovery in the automotive industry.

Rommel Gutierrez, first vice president at TMPC, told reporters the company’s sales are projected to grow by 10 percent by next year, the same rate as the country’s automotive sector.

 “I think [we will grow] 10 percent next year from whatever is the actual figures this year,” he said.

From January to November this year, TMPC sold 138,476 vehicles, down 16.9 percent from 166,601 vehicles in the same period last year.

As of end-November, sales of the industry-wide Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association Inc. reached 325,465 units, down 14.4 percent from 380,179 units a year ago.

Gutierrez said the optimistic outlook for next year’s sales performance for TMPC and CAMPI are based on expectations consumers have adjusted to the higher taxes imposed on vehicles.

Vehicle sales have been on a decline this year as higher taxes imposed on vehicles under the government’s tax reform package affected consumer appetite for cars.

Gutierrez said the elections next year are likewise expected to help drive demand, with commercial vehicles being used for campaigns.

“There are many who buy to be used for campaigns. They buy vans,” he said.

TMPC is also banking on its new vehicle models to drive sales.

The company launched yesterday the all-new Camry, which is being positioned as the “King of Sedans.”

Jose Maria Atienza, senior vice president for marketing at TMPC, said the company aims to sell 40 to 60 units of the new Camry per month.

For the previous Camry, TMPC was selling about 22 units per month.

 “We think we have a beautiful car. We have an attractive car offered to the public. We are quite confident it will be a big hit,” Cristina Arevalo, first vice president for brand and product planning cluster marketing division at TMPC, said.

Apart from the Camry, TMPC’s other vehicle offerings are the Alphard, Avanza, Corolla Altis, FJ Cruiser, Fortuner, Hiace, Hilux, Innova, Land Cruiser, Prado, Prius, Prius C, Rav4, Rush, Vios, Wigo, Yaris and the 86.