2024 an exciting year for auto industry — Toyota

2024 an exciting year for auto industry — Toyota | Daily Tribune

With 430,000 units of automobiles sold in 2023, Toyota Motors Philippines chairperson Alfred Ty believes that the country has recovered from the ill effects of the Covid-19 pandemic, making Filipinos regain their love for cars.

“The industry is now officially fully recovered from Covid. Total sales of 430,000 units in 2023 topped the 410,000 units recorded in 2019. This is wonderful news because the auto industry is such a major contributor to and enabler of the economy,” Ty said.

Earlier, the Chamber of Automotive Manufacturers of the Philippines or CAMPI and Truck Manufacturers Association reported that the industry had recorded a total of 429,807 vehicle sales in 2023.

According to the report, 109,264 passenger cars and 320,543 commercial vehicles were purchased throughout the year.

Of the said total, light commercial vehicles, particularly pickup and sports utility vehicles posted 79 percent of sales at 248,148 units.

Return of motorization

Ty said the recovery of the auto industry signals the return to motorization that was waylaid by the pandemic.

“Last year, in line with the recovery of sales, TMP paid a total of P60 billion in terms of taxes and duties. We are happy that we can once again help drive nation-building,” he said.

“Of course, I am also pleased that Toyota continues to be the country’s most popular car brand for the 22nd consecutive year now. I am also very happy that we set a new all-time sales record in 2023, with sales shattering the 200,000-unit barrier. I am humbled to have touched the lives of so many Filipinos and, in our little way, have helped move their world,” Ty stressed.

Meanwhile, the Toyota Philippines chairman also reported that the luxury market continues to grow, stating that as of last year, its luxury brand Lexus expanded by 37 percent to 4,396 units, climbing by 42 percent compared to the 2022 records.

“What this tells me is that Filipinos are on their way to a higher quality of life and standard of living, in line with the government’s goal of making the Philippines an upper middle-income society,” he said.

NextGen Tamaraw

Ty said that 2024 would be big for Toyota, as the company will be unveiling the Next Generation Tamaraw, which is very much aligned with the program of the government to expand manufacturing activity in the Philippines, ensuring the creation of jobs, support local parts makers, and provide micro, small and medium enterprises with a viable and sustainable mobility solution for their business.

“Your support in championing this game-changing model will also champion the cause of a better life for Filipinos. Electrification will, of course, be a continuing tale to tell. Our fight for carbon neutrality is gaining ground with sales of our hybrids and Lexus RZ BEV increasing their representation in our line-up to 3.6 percent from 1.2 percent in 2022,” he said.

Ty said Toyota Philippines is looking forward to gains in the transition to a mobility company, announcing that the company is making steady progress in its initiatives to elevate car users in the Philippines.

“One of our pioneering initiatives was the launch of a digital solution to enhancing the quality of ridesharing in the Philippines. We piloted this initiative with the Dept of Transportation, point-to-point bus lines, and even private companies. To date, we continue to operate a fleet of about 50 corporate shuttles under the ‘myTOYOTA Shuttle PH’ app,” he said.