Toyota Motor Philippines sold a record-breaking 8,840 vehicles in March this year, cementing its foothold as the biggest automotive company in the country.
In a statement, Toyota Motor cited the sustained sales of the Vios at 2,290 units last March as the reason behind its “record-breaking run.”
Growth in sales was further reinforced by Toyota’s introduction of new models in the first quarter, such as the Corolla Altis, Innova and Wigo.
In the first quarter, Toyota Motor’s total vehicle sales reached 22,828 units—up 34 percent form the 17,061 units sold in the same period of 2013.
“We are overwhelmed and grateful for the patronage our customers show toward our vehicles. This record-breaking sales performance [attests] to the trust and loyalty our customers have shown to our brand. I would like to thank the public, for this feat would not be possible without them,” Toyota Motor president Michinobu Sugata said in a statement.
“Just last March 31, we introduced the all-new Yaris adding more value to our already formidable lineup. Just like our other newly introduced vehicles this year, we look forward to the support the customers will express toward the Yaris,” Sugata added.
For 2014, Toyota Motor targets to sell at least 90,000 units—19 percent higher than last year’s vehicle sales of 75,587 units.
The company remains bullish on its prospects for 2014 given its robust sales performance last year.
Toyota Motor is also investing nearly P500 million this year to raise the production output of its facility in Sta. Rosa, Laguna, further increasing the local content of the Vios, which is being produced here.
The planned investment is way above the P40-million capital outlay Toyota Motor initially planned for this year.
“This year, TMP will have to increase the production capacity of its Santa Rosa plant by installing two additional painting robots to catch up with the market expansion. TMP will aim for a production volume of nearly 40,000 [units], compared to 35,481 units last year,” Sugata earlier told the Inquirer.
By mid 2014, TMP will also localize 15 more stamping parts for the new Vios.