TOYOTA Motor Philippines Corp. (TMP) is projecting flat car sales this year amid subdued private spending, but said it will continue expanding the reach of its electric models in provincial markets.
“We are taking a conservative stance and stay flat from last year. So, maybe a range of 5% growth,” TMP Chairman Alfred V. Ty told reporters on the sidelines of the 42nd joint meeting of the Philippines-Japan Economic Cooperation Committee, Inc. and the Japan-Philippines Economic Cooperation Committee (PHILJEC-JPECC) on Thursday last week.
He noted that the market is likely on a “wait-and-see” stance before purchasing activity regains momentum.
“The market has to have more confidence in the economy to start spending again, because that’s what we’re hearing from the market,” Mr. Ty said. “Some of them will wait and make sure that their business will be protected for this year.”
TMP ended 2025 with a 5.2% increase in sales, with 229,447 Toyota and Lexus units sold. The company accounted for 49.49% of the market share.
TMP earlier said it aims to maintain a 46% market share in 2026.
It is also targeting growth for its affordable hybrid vehicles, with provincial markets seen as a key driver.
“Right now, the market is shifting to provincial over NCR (National Capital Region)… and that’s where we want the demand to grow,” Mr. Ty said.
Sales of TMP’s electric models jumped 40% last year to 19,516 units, representing 9% of total units sold in 2025. Since 2009, the company has sold 44,228 electrified units as part of its efforts to promote carbon neutrality.
For 2026, TMP plans to introduce five new models, including three electrified vehicles: the Urban Cruiser battery electric vehicle (EV), the RAV4 hybrid EV, and the Land Cruiser 300 hybrid EV. Other new launches will include the Land Cruiser FJ and the all-new Hilux.
The Philippine automotive industry is expected to grow to between 491,000 and 510,000 units this year, TMP President Masando Hashimoto said in January. — Beatriz Marie D. Cruz
