British Research Firm Bullish on RP Vehicle Mart

PHILIPPINE auto sales may grow at a rate that is higher than what the local industry expects, according to a new study by the Business Monitor International Ltd.

The study also indicated that the relatively unserved market segments would boost growth prospects for 2009.

The London-based market research firm said sales could grow by 8 percent, to more than 127,000 units. The projected growth rate, however, is lower than the 18.3 percent posted in 2007.

The Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association said they were expecting to sell only 125,000 units this year, or a growth rate of 6 percent. Read more

Toyota Phils Not Poised to Undertake Major Investments in 2009

Market leader Toyota Motor Philippines Corp. (TMPC) is only looking at equaling its 2008 performance for next year and is not expected to undertake new major investments.

This, as car companies in the country are said to be “cautiously optimistic” of industry prospects in 2009, projecting a 2-percent to 4-percent growth in sales volume.

Elizabeth Lee, president of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi), said the industry is aiming for a high of 130,000-unit sales volume for 2009. This will be 4-percent higher than the estimated 125,000 units that Campi is expecting to sell this year. Read more

AAP, Toyota, NCTS Holds Road-Safety Conference

Amid the increasing number of road accidents around the country, the Automobile Association Philippines (AAP), in cooperation with Toyota Motor Philippines Corp. and the University of the Philippines-National Center for Transportation Studies (UP-NCTS), in coordination with the Department of Transportation and Communications, is held a multisectoral “Road Safety Partnership” conference last November 20 at the Heritage Hotel Manila.

The conference featured presentations from road-safety experts and leaders. Apart from sharing best practices in road-safety programs, the conference also aims to increase awareness of the National Road Safety Action Plan and to secure support and cooperation for the Global Road Safety Partnerships (GRSP) Philippines Project. Read more

Toyota Philippines Forecasts Zero Growth in 2009

Toyota Motor Philippines (TMP), the largest automotive seller in the country, expects a zero growth rate in car sales next year as a result of the expected drop in global demand for cars.

“We will have flat growth for next year,” TMP vice president for corporate affairs group Rommel T. Gutierrez told The STAR in an interview. Read more

Toyota Philippines Launches Face-Lifted RAV4

Toyota Motor Philippines (TMP) Corporation announces the launch of the new and improved 2008 RAV4.

The enhancements of the compact SUV aims to further strengthen Toyota’s position as the number one automotive company in the country and in the Commercial Vehicle (CV) segment.

The new 2008 RAV4 is still equipped by the powerful yet fuel efficient 2.4-liter VVT-I engine, as acquired from the 2006 model. Both the 4WD and 2WD variants are hauled with a maximum output of 170ps/6,000rpm and maximum torque of 224Nm/4,000rpm. Read more

Toyota to Focus on Boosting CKD in 2009

Toyota Motor Philippines (TMP) announced over the weekend that it is strengthening the local completely knocked down (CKD) segment in the country.

“We are going to focus on CKDs,” TMP vice president Rommel T. Gutierrez told The Star in an interview.

According to him, this would be the focus of the car company’s initiative next year. Read more

Activities and Promo Liven Up Toyota Showrooms

Weekend activities and the Buy 1 Drive 2 Promo liven up Toyota Showrooms. In Toyota Motor Philippines (TMP) Corporation’s launch of the new International Innovative Multipurpose Vehicles (IMV) - the Innova, the Hilux, and the Fortuner, Toyota showrooms have been welcoming their customers with activities.

Starting last October 11 and 12, motorists visited the nearest Toyota showrooms and checked out the new line up with enhanced interior and exterior features. Toyota showrooms will continue the activities for the whole family, including the kids, for the coming weekends of October 18-19 and 25-26. Read more

Toyota Philippines Set to Overshoot 2008 Sales Target

Japanese auto giant Toyota Motor Philippines Corp. (TMPC) will likely overshoot its target this year with sales reaching about 50,000 units, a top company official said.

“We will surpass our initial forecast because the first eight months have been good,” TMPC executive vice president Rommel T. Gutierrez said in an interview at the sideline of the launch of Toyota ’s IMV (Innovative Multi-purpose Vehicle) series. Read more

Toyota Philippines Relaunches Facelifted Hilux

Toyota Motor Philippines Corporation is set to introduce the new Hilux this September 2008. Aside from the tough exterior facelift and the functional interior upgrades, the Hilux comes with a new 4X2 2.5 diesel variant in a 4X4 body. The new Hilux is one of the main highlights of the Toyota booth at the 2nd Philippine International Motorshow at the World Trade Center from August 21 to 24, 2008.

The Hilux, launched in December of 2004, was at the forefront of innovation in the pick-up segment. As part of Toyota’s International Innovative Multipurpose Vehicles (IMV) together with the Innova and Fortuner, the Hilux revolutionized the pick-up landscape with its tough features, state-of-the-art diesel technology, but handsome looks. Prior to its introduction, pick-up trucks were seen purely as a practical workhorse. Adding premium to style and form, combined with a powerful engine, the Hilux reigned supreme for the next three years since its introduction, both in the 4X4 and 4X2 segments, with average annual sales of 2,400 units. The pick-up market registered almost 50 percent growth from 2004 to 2007. Read more

Toyota Invests P5.4 B to Double Production Capacity

Toyota Auto Parts Philippines Inc. (TAP), a subsidiary of Toyota Motor Philippines (TMP), has invested an additional P5.4 billion to double the production capacity of its transmission plant in Laguna.

“We will be intensifying our exports of transmissions to the ASEAN and Africa,” Toyota vice president Rommel Gutierrez said in a telephone interview.

Gutierrez said they will be announcing their expansion during tonight’s celebration of Toyota’s 20th anniversary in the Philippines. Read more

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