Toyota sees sales returning to pre-pandemic level in 2022

MANILA, Philippines — Toyota Motor Philippines Corp. (TMP) sees total sales back at pre-pandemic level this year as increasing vaccination rates and mobility boosting vehicle demand.

TMP chairman Alfred Ty said during the recent launch of the Raize model that there are many encouraging signs seen for an optimistic 2022, after achieving record-high market share of 46.3 percent last year, the highest in Southeast Asia.

Ty said these include the sustainable gains in the fight against the pandemic, increasing vaccination rate, as well as rise in economic activity brought about by greater mobility.

“We are also hopeful for the successful and peaceful turnout of the elections, campaign spending, the honeymoon period of a new administration and sustained infrastructure spending contained in the national budget will sustain consumer and business confidence,” Ty added.

Given factors to drive demand for vehicles, TMP first vice president Sherwin Chualim said the automaker wants to see sales reach pre-pandemic levels this year.

Last year, TMP’s sales reached 129,667 vehicles or 80 percent of the pre-pandemic or 2019 level. It sold 162,011 vehicles in 2019.

TMP has set a monthly sales target of 1,000 units for the Raize that is targeted for the young generation in its bid to achieve pre-pandemic level sales this year.

In particular, the country’s leading vehicle assembler is targeting those in the 35 to 40 years old age range as primary customers, and young professionals and college students as secondary customers for the Raize.

“There is rapid growth in the SUV market, especially entry level SUV and this is what we saw as a potential and that is the reason why we are introducing the Raize. It is one model or segment that is not yet present in the Toyota lineup. We are very confident we will be able to cater to the needs of the customers in this segment,” Chualim said.

Despite the global chip shortage, the company said it would ensure there is enough supply of units as much as possible.

The Raize is available in four variants: the 1.2 E MT priced at P746,000, 1.2 E CVT at P816,000, 1.2 G CVT at P906,000 and the 1.0 Turbo CVT at P1.031 million.

For the 1.0 Turbo CVT in white pearl, the price is at P1.036 million.