CEBU, Philippines - Toyota Motor Philippines Corp. (TMPC) is confident that Cebu will be one of the top three markets in the Philippines for its first low-cost model, the Wigo hatchback.
TMPC first vice president for vehicle sales and operation Jose Maria Atienza said that the car maker expects Cebu to be one of the biggest markets for the latest hatchback model.
Such confidence could be attributed to the province’s enhanced urbanization, sustained economic boom and increased purchasing power of Cebuanos to buy new cars.
“We saw how the city has grown. It is a tough market and we hope to get a good chunk of the segment,†he said.
Atienza said that the same buoyancy in the local market was evident as TMPC chose to exclusively launch Wigo to the national market in Cebu last week.
He also said that the first batch of Wigo units was shipped ahead of time to Cebu in the second week of February.
He further revealed that the company aims to sell 500 Wigo units every month in the country.
He cited that they target to cater to the car needs of first-time owners, startup families, and young generation with the easy-to-own Wigo model.
While the Wigo units will be produced in Indonesia, Atienza said that they are still studying the possibility to produce the same models in its production facility in Sta. Rosa, Laguna.
Meanwhile, TMPC president Michinobu Sugata described Wigo as the “most affordable†Toyota to date.
He added that the carmaker has made history in the Philippine automotive industry with its newest addition to its lineup that boasts of its accessibility, affordability and fuel efficiency.
He said that in the age of mobilization, more and more Filipinos felt the need to have their own vehicle that would complement their lifestyle.
“It has more become a necessity at present rather than just a luxury,†he said.
Wigo is available in three variants namely Wigo 1.0G AT, Wigo 1.0G MT, and Wigo 1.0E MT. Units are pegged at retail prices from P448,000 to P534,000. They are currently displayed at the three Toyota dealership branches in Cebu.
In an earlier statement, Toyota Motors reported that it sold 75,587 locally-produced and imported units nationwide last year.
TMPC first vice president Luis Marcelino said in a recent interview that the carmaker recorded an increase of more than 10 percent this year compared in the 2012 performance. He added that around 25 percent of which were being produced for the Cebu market.
Company officials also remain bullish to hit its target vehicle production at 90,000 units this year given the robust sales performance last year and more new models set to be released within 2014.
Toyota Motors also recently announced that it started strong this year by selling 7,062 units in January. This is reportedly more than the 4,716 vehicles sold in the same month last year.
The Innova and Vios models which are both locally assembled in the Philippines lead the strong performance this month. Fortuner also accounted a contribution to such growth by hitting a monthly sales record of 1,623 units.
In the yearend summary of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), Toyota Motors was hailed as the top performer in 2013. It accounted 41 percent of the total market share which is then followed by Mitsubishi with a quarter of the market. (FREEMAN)