Toyota marks milestone with over 2 milyong vehicles sold in Philippines since 1988

MANILA, Philippines — Toyota Motor Philippines Corp. (TMP) has achieved a sales milestone with over two million vehicles sold in the country since it started operations in 1988.

“Surpassing the two million mark would not be possible without the support of our loyal Toyota and Lexus customers, the commitment of our 73-strong Toyota dealer network, and of course the sense of ownership that every TMP team member has to our goal and responsibility of providing mobility for all. Thank you for making Philippines a Toyota country,” TMP president Atsuhiro Okamoto said in a statement.

TMP chairman Alfred Ty said the two million sales milestone comes at the right time as the firm is undergoing its brand transformation to become a mobility company.

“We are truly humbled that Filipinos have welcomed the Toyota brand as family, and we are grateful to be entrusted with the responsibility of helping the Philippines build a mobility-empowered society. Your continued trust and patronage inspire us to continuously improve and evolve our operations, so that we can help modernize mobility and contribute to nation-building,” he said.

The milestone follows TMP’s 20th consecutive year of Triple Crown achievement last year as it continued to top passenger car sales, commercial vehicle sales, and overall sales.

Last year, TMP achieved a record-high market share of 46.3 percent, which is also the highest in Southeast Asia.

TMP, a joint venture among GT Capital Holdings Inc., Toyota Motor Corp. and Mitsui & Co. Ltd., is the leading automotive firm in the country.

Based in Sta. Rosa, Laguna, TMP operates the largest car manufacturing and assembly plant in the country, with over 958,000 units rolled out including the Crown, Corolla, Lite Ace, and Tamaraw since it started operations.

At present, TMP’s plant assembles best-selling models Vios and Innova.

Last year, TMP sold over 35,000 Vios units and more than 13,000 Innova units.

TMP’s operations have made contributions to the economy by providing livelihood to over 60,000 employees in the entire value chain.

Toyota group’s cumulative investments in the country reached P67 billion, while export sales amounted to $6.13 billion as of 2020.

As of last year, cumulative duties and taxes paid by TMP reached around P426 billion.