AUTO INDUSTRY NEWS

Toyota captures 40% market share in October 2007

Toyota captures 40% market share in October 2007 image

Text: / Photos: | posted November 15, 2007 00:00

Sells 4451 vehicles

Toyota Motor Philippines Corporation continues to be the dominant force in the automotive market as it captured almost 40 percent market share in October, selling 4,451 units. As a way of taking its customers for continuously making Toyota the number one automotive company in the country, and to jump start the Christmas season, Toyota also offers the Great Upgreats Promo, in addition to the extension of Toyota Savings Plus promo for select variants of the Yaris, Altis, Avanza and Innova.

Aside from leadership in overall sales, Toyota also retained its Triple Crown title which it regained last September with the introduction of the All-New Vios. The much-elusive Triple Crown prides Toyota as the leader in both passenger car and commercial vehicle segments as well, in addition to being number one in overall sales. In the PC segment, Toyota sustained its leadership with the increased sales of 1,886 units from the 1,784 units sales in September. This was mainly due to the successful market penetration of the new Vios, as well as the aggressive marketing efforts for the Camry, Yaris, and Altis.

In the CV segment, Toyota maintained its number one position with increased sales of 2,565 units in October from the 2,403 units sales in September. The Toyota Innova, Avanza, Fortuner and Hilux all remain to be the leaders in their respective segments.

Market reached its highest sales for the past 9 years with 11, 194 units sales in October. Compared to the previous month, market sales increased by 7 percent. This remarkable performance can be attributed to the general improvement in the market, higher seasonality, new model introductions, and continuous marketing campaigns by various brands.

On a year-to-date basis, Toyota is getting closer to its target of selling 40,000 units at year-end. For the first 10 months of 2007, Toyota has already sold 35,675 units with 37.5 percent market share. This is a 17 percent growth compared to the same period last year. Toyota will continue to implement more affordable financing schemes for customers such as the Toyota Great Upgreats and Savings Plus Promo this November.