Toyota Motor Philippines (TMP) has much to celebrate as it counts over 200,000 vehicles sold in 2024 and counting. Besides the impressive yearend figures shared at Toyota’s yearend press conference, executives also shared another interesting tidbit: the Philippines is already number 2 in the world when it comes to Land Cruiser (LC300) allotment. The country is only behind the middle east when it comes to allotment for the particular model.

This means the middle east is the first priority when it comes to receiving fresh Land Cruiser 300 units from the factory. However, the Philippines is second on the list.

This should come as no surprise as the luxury sedan has been steadily falling out of favor, with many opting for SUVs instead. Lawmakers and corporate executives have been the key market for the vehicle. The same trend can be seen among Eurpean marques.  The Land Cruiser 300, in particular, has been a steady favorite owing to its agreeable price, high resale value, and large network of Toyota service centers.

Currently, the Philippines receives around 150 - 200 units per month. This figure is not fixed and may rise or fall depending on the demand of other countries. However, it’s already quite high considering this is one of Toyota’s most expensive models, priced at P5,747,000 for the Land Cruiser ZX.

As large as this allotment is, it doesn’t appear enough to satiate Filipinos' appetite for the vehicle. Waiting lists for the vehicle can still stretch from a few months to a whole year. In the past months, TMP has been able to win over allotment from other countries where demand for the vehicle has fallen because of economic issues. Executives shared that other markets may have to wait upwards of 7-10 years for one upon placing an order. As such, our waiting list is quite short by comparison.

Conversely, when it comes to the HiAce, the Philippines is number 1 when it comes to global allotment. Similarly, TMP is working hard to negotiate for a higher allotment, but nonetheless, demand for the vehicle in other countries has to be met as well.

We also asked about other units in the lineup. While there’s certainly demand for the new Land Cruiser Prado (LC250), it’s positioning as a typically owner-driven luxury SUV and its smaller size than the 300 means demand and allotment for it is still lower than the flagship SUV. Markets like North America get larger allotments of this vehicle, owing to the absence of the LC300 in their market.

The Alphard, by contrast is more highly in demand in Hong Kong. The Innova Zenix is highly sought after in many of our ASEAN neighbors as well.

With such a revelation, the Toyota executives advised customers to just be patient. Transact only with authorized sales executives. Pay only at the dealer’s cashier. The team is working hard to negotiate for more vehicles each month to meet those orders.
It’s certainly a surprising revelation. With demand so high, one has to wonder, should Toyota start assembling the Land Cruiser and HiAce locally?