AUTO INDUSTRY NEWS

Toyota Sets Record-High Sales of over 45,000 units in 2007

Toyota Sets Record-High Sales of over 45,000 units in 2007 image

Text: / Photos: | posted January 28, 2008 00:00

Automotive industry giant Toyota Motor Philippines Corporation (TMPC) sets a new milestone by achieving a record-high sales of over 45,000 units in 2007. No other car company has achieved such a feat throughout the Philippine automotive history.

Based on the reports of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), TMPC registered total year-to-date sales of 45,091 units in 2007. This puts Toyota in a favorable position with 38.2 percent market share and an 18 percent growth compared to previous year, enabling TMPC to finally surpass the pre-Asian Financial Crisis sales record of 41, 801 units achieved in 1996.

On a per segment basis, Toyota snagged first place for both the passenger car and commercial vehicle segments. Toyota captured 37.3 percent market share in the PC segment with total sales of 15,283 units. This registered a growth of 10 percent compared to the same period in 2006, surpassing industry growth of only 7 percent.

In the commercial vehicle segment, Toyota registered 22 percent growth, capturing 38.7 percent market share. It recorded total CV sales of 29,808 units, more than twice the volume of its nearest competitor.

On a per model basis, four out of the country's top five best-selling vehicles are Toyota products. This country's number one best selling vehicle is the multipurpose Innova, with 10,544 units sold, closely followed by the Vios compact sedan with 8,717 units. The Fortuner sport utility vehicle came in at fourth place with 7,216 units, followed by the Avanza with 6,257 units sold.

In a statement, TMP Vice Chairman Alfred Ty expressed, "Indeed, 2007 has been a significant year for Toyota. The achievement of record-breaking sales levels, the introduction of the All New, Proudly Philippine-made 2007 Vios, and the sales of 500,000 units in our 19 years of operations are all positive indicators that Toyota has strongly recovered from the Asian Financial Crisis, and as the market leader, we hope to drive the market to this growth level as well."

TMP President Hiroshi Ito added, "These achievements will serve as a grand welcome for 2008. While it will no doubt be a more challenging year, we also have a greater reason to celebrate as it will be TMP's 20th anniversary. Thus, all efforts will be geared towards fortifying our 20 years of leadership in the automotive industry and 20 years of providing products and services that will help Toyota owners get more out of life."