Toyota Philippines to Roll Out Lexus Line by Q1 2009

Toyota Motors Philippines Inc. (TMP) is getting ready to roll its Lexus line of luxury cars by the first quarter of 2009 as it aims to establish a premium foothold in the local luxury vehicle market.

Alfred Ty, vice-chairman of TMP, said the group is dead set on putting up the first Lexus showroom in the Philippines in spite of the ongoing sub-prime crisis in the US, the economic slowdown in the country and soaring prices of oil.

“If everything goes on schedule, we hope to start selling units in the first quarter of next year,” Ty said Read more

Toyota Forms P1-B Firm Lexus Manila

Toyota Motor Philippines Corp. (TMPC), controlled by the family of taipan George S.K. Ty, has ushered in the high-end Lexus brand to the country via the establishment of a P1-billion company called Lexus Manila in line with the Japanese automaker’s global expansion of its luxury division.

Lexus, which has become the highest-selling maker of luxury cars in the United States, is presently sold in 57 countries in Europe, the Middle East, Oceania, Africa and Asia. It was launched in China three years ago, in Malaysia earlier this year and Indonesia only last month. Read more