Toyota PH surpasses 50% market share
I remember a conversation I had with Atty. Rommel Gutierrez, (CAMPI President and Toyota Motor Philippines First Vice President) a few years ago about traffic. We were joking with him that 40% were Toyotas, but he joked back that we should be looking at the 60% which was everyone else.
Now that's changed. The ratio between Toyota Motor Philippines and everybody else is 50/50. That's right. So far in 2022, Toyota has commanded half of all brand new car sales in the Philippine auto industry.
To be exact, the market share is 51.1% based on CAMPI numbers. In the same period in 2021 (January to July) they registered 45.9%.
That means for every 100 cars sold out of any official dealership of any brand, 51 had a T emblem. To be exact again, TMP sold 94,026 units from January to July 2022 while the industry (CAMPI) did 183,998 units.
This speaks of the total and absolute dominance of Toyota in the country. The 50% share also means Toyota Motor Philippines probably has the outright market share lead when compared to any market they are present in worldwide.
The news comes from Toyota executives during this weekend's TGR Vios Cup event. They noted that the number itself is an aberration of what would be considered normal. All brands are feeling the strain of the shortage of car units and parts, but they said that Toyota has been able to weather the parts and unit supply issues better than most of the players in the industry.
But the big reason was the drop in sales from one of the bigger brands in the Philippines: Hyundai. The Korean brand has been a strong player in the market, but the changeover to new management has dropped the sales numbers this year. This has also pumped up the market share of Toyota, and customers that would have gone to Hyundai were spread out amongst the other brands.
So, don't be surprised if you see a lot more new Toyotas on the road. They are really dominating the market, bar none.