Targeting the bull's eye? Toyota sets Php 5.5 Billion on Tamaraw for 2024 launch

It seems like Toyota's way of hitting the perfect bullseye is by investing Php 5.5 billion. Yes, you read it right! Toyota Motor Philippines is investing Php 5.5 billion in its operations to prepare for the launch of the Toyota Tamaraw in the third quarter of 2024. 

If you can recall, Toyota Motor Philippines (TMP) has shown off the design of its new 'Toyota Mobility Light Commercial Vehicle,' called the Next Generation Tamaraw, during its 35 Years of Mobility event in 2023. Akio Toyoda, who leads Toyota Motor Corporation, introduced the new Tamaraw model, which builds on the well-known Toyota Tamaraw FX, adding more useful features and better efficiency. The new Tamaraw will be the third model made at the Santa Rosa plant, along with the Vios and Innova. 

As reported by PNA, TMP Chairman Alfred Ty mentioned their current plan of investing Php 5.5 billion for the return of the Toyota Tamaraw. During BBM's visits to Japan in 2023, Toyota said they'd spend a big part of this money, showing they believe in the Philippine market, and by the third quarter of 2024 when the Tamaraw is set to come out, Toyota plans to have used up all this investment. 

At present, Toyota has already spent over P1.3 billion, which is 25% of the total amount they plan to spend, which includes making their factory better and studying the market to understand what truck buyers want. Moreover, the launch of the fully imported Lite Ace in 2022 helped Toyota learn more about this market.

For Toyota, aiming for that perfect bullseye means really going all in with a massive Php 5.5 billion investment. With that kind of money on the line, the Toyota Tamaraw is definitely something big to look forward to later this year. If you're curious about what Toyota has to offer right now, you can always check out their current car models and get a quote for the one you like while waiting for the Tamaraw's launch.