It was only a matter of time.
Toyota Motor Philippines (TMP), the number one automobile brand in the country, has a new milestone to be proud of: they have sold 2,000,000 vehicles.
Yes, 2 million Toyotas have found their way into Filipino homes all over the country, a testament to the affinity that car buyers have for cars, SUVs, vans, MPVs, pick-ups and commercial vehicles that wear the T emblem on the grille. The achievement follows their recent success of maintaining the “Triple Crown” with the highest sales in passenger cars, commercial vehicles, and overall sales as a brand.
"Surpassing the two million mark would not be possible without the support of our loyal Toyota and Lexus customers, the commitment of our 73-strong Toyota dealer network, and of course the sense of ownership that every TMP team member has to our goal and responsibility of providing mobility for all. Thank you for making Philippines a Toyota country," said TMP President Atsuhiro Okamoto.
There is, however, a caveat here: the count for the 2 million unit sales actually only goes back to Augut 3, 1988 when Toyota Motor Philippines was set up as a company with Toyota Motor Corporation (34%), Mitsui & Co. (15%) and George Ty's Metrobank (later GT Capital, 51%). The count does not include vehicles sold by the previous Toyota partner which was Delta Motor Corporation for a long time prior, so there will be much more.
Nevertheless, Toyota has had a commanding share of the Philippine auto market for quite a while now; typically around 40%. In 2021, they actually achieved a 46.3% market share in the CAMPI report. Factoring in the sales of brands that don't report to CAMPI, that number is at 43.88%.
The company has also been consistently achieving over 100,000 units sold per year in the Philippine market for quite a number of years too; the only exception being 2020 when the industry took a big hit during the start of the pandemic. Given their growth now, it probably won't be too long before they send out a notice that they've achieved 3 million units sold. We'll venture a guess that it will be by 2028 or 2029.