Toyota Motor Philippines (TMP) is targeting to produce 20,000 units of its next-generation Tamaraw this year, with no change in the volume of their other company car models, Vios and Lexus.

“We are quite ambitious with this goal, so we are targeting around 20,000 Tamaraws for this year," said TMP President Masando Hashimoto during an ambush interview at the Toyota Thanksgiving Party in BGC, Taguig City on Friday.

According to TMP Chairman Alfred Ty, the Vios will continue to deliver 2,000 to 2,500 units per month.

"[This] remains a strong segment for Toyota," he said, adding that the Philippines continues to rank in the top 10 for global Toyota markets, with the US in the number one spot and Japan in second.

Chairman Ty said they are also aiming to improve the Philippines' global Toyota market standing as they continue to deliver the best they can based on their target.

“The investment goes (really) for the Tamaraw lineup, which has accumulated P5.5 B in investments already,” he said.

“We at Toyota are happy that we can continue to play a significant role in the country’s rapidly transforming automotive industry. With sales of 218,019 units last year, Toyota and Lexus recorded another all-time record high. Completing 23 consecutive years of our triple crown, the Philippines remained among the 10 largest markets for Toyota worldwide. More importantly, it helped us secure jobs for over 69,000 Filipinos in 2024 and realize over $1 billion in exports for the country and contribute P35 billion to government revenues,” according to Ty in his speech during the program.

He said the auto industry is indeed transforming into a major pillar of economic development, particularly the rapid and significant influx of automakers and brands.

“I believe it is high time that we view the automotive industry as one cohesive sector contributing to nation-building. The combined sales of CAMPI, TMA, AVID, and some EVIDA players total 474,000 units, with 12 motor vehicle manufacturers and assemblers, up to 60 brands, and more than 400 models on the road. In my estimate, this should have generated up to 70 billion pesos in taxes and 138,000 in the employment of direct and indirect jobs supplying parts or business services to the auto sector,” the TMP official said.

“As a result, we are projecting sales to grow to over 500,000 units, Half a million new cars – 512,000 units to be exact – representing sustained growth of 8 percent. This opens new horizons for local production that will help the government in its goal of strengthening the manufacturing sector. I am hoping that we can harness the collective power of every automaker doing business in the country in realizing a more united automotive program to develop the auto industry into a major economic force in support of the nation’s long-term development plans,” he further maintained.