The Philippine automotive industry had encountered a tough challenge in 2018 with the fluctuation in fuel price and the implementation of the higher excise tax on vehicles under the Tax Reform for Acceleration and Inclusion (TRAIN) Law. Despite this economic condition, Toyota Motor Philippines (TMP) still managed to stay at the peak of the local automotive’s ladder, bagging its 17th consecutive Triple Crown. Proving this feat, the Japanese marque topped nine segments in the local market in terms of sales, including passenger car (PC), commercial vehicle (CV), and overall sales.
Looking back in 2018, the Philippine automotive sales garnered 401,803 units, which is an obvious drop compared to 2017’s record of 473,943 vehicles sold, amounting to a 17% sales decrease from 2017. Regardless of this dip in sales, TMP strongly defied the odds and sold 153,000 units last year, which translates to a whopping 38.2% market share in the auto industry, keeping its tight hold on the number one position.
Attesting its capability and popularity in the country, the Vios showed a remarkable sales performance with 25,740 unit sold in 2018, which consist of both the outgoing and new model. The Fortuner midsize SUV clinched the second spot with 23,082 units sold, while the Wigo mini subcompact hatchback joined the big three with 21,234 vehicle sales. Completing the Japanese brand’s top five nameplates are the Hilux and Innova with a sales record of 18,287 and 18,175, respectively.
With the continuous success, the company expressed its confidence for 2019, along with its luxury segment, Lexus. As a matter of fact, TMP shared that it is planning to increase its dealership network to 72 showrooms to cater more potential buyers nationwide and provide the best aftersales service to its valued customers.