Toyota announces April sales achievements, completes IMV line with new Fortuner
Toyota Motor Philippines Corporation (TMPC) announces its April sales achievements with 34.5 percent year-to-date (YTD) market share, as reported by the Chamber of Automotive Manufacturers of the Philippines (CAMPI). Toyota's reported YTD market share is five percent higher compared to the same period last year, while its market share for the month of April alone reached 35.3 percent, 18 percent higher compared to the same period last year.
Toyota also captured the top spot in both the passenger car and commercial vehicle segments with 44.2 percent and 28.7 percent YTD market share respectively. Toyota is set to strengthen its hold on the commercial vehicle segment with its newest SUV (and the last member of its world-class IMV Project) the Fortuner.
As Toyota continues to be the industry leader with sales reaching greater heights, Toyota further commits its partnership to the Philippine economy. "Toyota is a major partner in the task of strengthening the Philippine economy. Investments of Toyota and its relating suppliers have reached more than 17 billion pesos as of 2004. Together with its dealership network, Toyota Autoparts Philippines and the Toyota supplier network composed of many small- and medium-scale enterprisers, employ more than 12,000 people. Toyota has also remitted more than 52 billion pesos in customs duties and taxes since its inception in 1988. In the international scene, the Toyota Group has exported more than US$ 380 million worth of parts. In 2005, the figure is projected to exceed US$ 420 million dollars, the increase coming mainly from the IMV Project," said Alfred Ty, TMPC vice chairman.
On a year-to-date basis, Toyota sold a total of 10,430 units from January to April of this year. In April 2005 alone, Toyota's sales reached 2,922 units, more than half the units sold by its nearest competitor.
In the passenger car (PC) category, Toyota maintained its top spot by selling 5,012 units in year-to-date sales and 1,179 units in April. Toyota's Altis, Vios and Camry once more proved to be number one in their respective categories. The Altis sold 1,519 units or 14.9 percent making it the leader in the medium PC segment. The Vios sold 2,509 units, good for a 24.7 percent market share and is not only the leader in the small PC segment, but the best selling passenger car in the market as a whole. Finally, the Camry remains to be the leader in the luxury sedan segment with 386 units sold or a 51.6 percent market share.
The commercial vehicle segment is Toyota's focus for the year since it comprises 62.5 percent of the local automotive market. While Toyota remains to be the leader in this segment with a 28.7 percent market share, part of the industry leader's strategy is to strengthen its hold on this segment.
As its first step towards holding down the CV fort, Toyota introduced first of the three IMV models, the Hilux pick-up, in December of 2004. The Hilux now rides as the proud leader of the pick-up market with a 31.6 percent market share, with 378 units in YTD sales. Second, the Innova, Toyota's multipurpose vehicle (MPV) bet, garnered 3,439 units since its introduction in mid-February. With a 39 percent market share, the Innova has been a consistent selling vehicle in the country. Finally, Toyota recently unveiled its newest SUV and the final member of the IMV line-up, the Fortuner. The Fortuner, dubbed as a luxury SUV, is offered in 3.0 liter D-4D diesel automatic transmission and in 2.7 liter VVT-i gas automatic transmission variants.
With the completion of the global quality line-up under the IMV Project, the Toyota Hilux, Innova and Fortuner, together with other Toyota CVs, present a bigger opportunity for Toyota to further strengthen its presence in the heavily competitive commercial vehicle market. The Fortuner's addition to Toyota's CV line-up boosts its chances of taking leadership in this segment. "The Fortuner plays a vital role for Toyota. In the worldwide scene and also as part of Toyota's IMV Project, the Fortuner is an international vehicle made with the highest standards. It is being manufactured in countries such as Thailand, South Africa, and Argentina. From these countries, it is driven in different roads all over the world - from Asia, Europe, Oceania, the Middle East, Africa and Latin America," said Mr. Ty.