Toyota Motor Philippines Corp. (TMP) expects to breach the three-million cumulative vehicle sales milestone later this year as improving vehicle supply and recovering market demand strengthen its growth outlook despite ongoing geopolitical and energy-related challenges.
Toyota Motor Philippines Corp. maintained its market leadership, accounting for a substantial 46.15 percent of the market with 140,654 units sold. This represents a 10.9-percent increase from its sales in the previous year, solidifying Toyota’s dominance in the Philippine market.
Vehicle sales in the Philippines experienced a significant boost as of the end of June 2024, rising by 11.8% compared to the first six months of last year, according to a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. and the Truck Manufacturers Association.