By Bernie Cahiles-Magkilat
Toyota Motor Philippines (TMP) is looking at 10 percent increase in sales in 2019 along with the industry’s 10-15 percent growth forecast.
TMP Vice President Rommel Gutierrez said the sales growth projection for next year is largely hinged on market adjustment from the imposition of higher auto tax in January this year.
The industry is expected to decline by 10-15 percent this year as buyers were discouraged by the high excise taxes on cars.
Gutierrez also said that 2019 is an election year and historically demand for mobility increases during election period.
He said the industry expects more sales for commercial vehicles that will be used for political campaign sorties.
In the case of Toyota, Gutierrez said that 2019 is the first full year for its CARS Program. The company is expected to sell 33,000 units of Vios this year to meet the 200,000 unit requirement over the six-year Comprehensive Automotive Resurgence Strategy Program.
Vios has a current local content of 35 percent but is expected to attain as much as 60 percent local content at the end of the program.