Toyota Phl targets sales of 200k units

Leading automotive player Toyota Motor Philippines Corp. (TMP) is targeting to sell over 200,000 vehicles this year as it expects lower interest rates and inflation to support demand for cars.

- By Louella Desiderio

TMP president Masando Hashimoto told reporters that as the Philippine automotive market is expanding, the company is aiming to catch up with the fast-pace growth of the market this year by selling "more than 200,000" units.

As TMP expects total vehicle sales in the country to reach 476,000 units this year, he said the company's goal is to account for close to half of the market.

Data from the Chamber of Automotive Manufacturers of the Philippines Inc. and Truck Manufacturers Association showed that TMP accounted for 46.21 percent of total vehicle sales in the country in the January to September period as the company sold 159,088 units, up by 10.3 percent from 144,232 units in the same period last year.