Toyota Motor Philippines leads industry's recovery in 2019
MANILA, Philippines — From a market contraction in 2018, the Philippine automotive market finished 2019 with a 2.4% growth rate led by a strong fourth quarter from most industry players.
“As industry leader, it is Toyota’s role to drive the industry back to sustainable growth. We will continue to be this country’s solid partner in nation-building. In fact, as of end of 2019, TMP has paid a total of P384.3 billion cumulative taxes since the start of our operations,” said Toyota Motor Philippines (TMP) Chairman Alfred Ty.
“Despite the downturn of 2018, Toyota Motor Philippines maintained its workforce of 2,195 Filipinos, on top of those employed by its network of 71 dealers nationwide,” he added.
Recognizing the significance of its responsibility as an industry leader, TMP beefed up its efforts to stimulate the market through various customer service and value-added activities, resulting in sales of 162,011 units and a share of 39.5% for the year.
Of this number, 54,028 were produced locally in its Sta. Rosa manufacturing plant furthering its commitment to the development of the local automotive industry.
TMP’s locally-assembled flagship passenger car, the Toyota Vios, which is under the Comprehensive Automotive Reform (CARS) program, remained as the country’s best-selling vehicle with 33,181 units sold. This puts Toyota on track to deliver its commitment under the program.
“We sincerely appreciate the motoring public for their trust and confidence in Toyota throughout the years,” said Sherwin Chualim, first vice president for Marketing Division of TMP.
For more Toyota news, visit www.toyota.com.ph or check out Toyota’s official social media pages at @ToyotaMotorPhilippines (Facebook and Instagram), and @ToyotaMotorPH (Twitter).
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