MANILA -- Toyota Motors Philippines Corp. (TMPC) projects sales for next year to be at the same pace with the local automotive industry, its vice president for corporate affairs Rommel Gutierrez said.
Gutierrez told reporters that vehicle sales in 2019 is expected to recover, increasing by 10 percent.
“I think we’re 10 percent next year from whatever is the actual figures this year,” he said.
For the past 11 months, sales of the vehicle manufacturers’ group declined by 14.4 percent to 325,465 units from 380,179 units in the same period last year.
TMPC recorded higher drop than the industry’s figure at 16.9 percent, selling 138,476 units from January to November this year from 166,601 units sold in 2017.
Still, the Japanese carmaker has remained the top selling vehicle brand in the Philippine market despite the decline.
Gutierrez said the industry is optimistic of the market in 2019, noting that sales performance is robust during an election year for the industry.
Meanwhile, Gutierrez said the firm targets the local production of its Vios model to hit 33,000 units next year. This model is registered under the Comprehensive Automotive Resurgence Strategy (CARS) Program of the government.
He added that the local content of Vios will increase to 40 percent from the current 30 percent. (PNA)
