Toyota PH sold a record 218,019 vehicles in 2024
Toyota Motor PH achieves its 23rd consecutive Triple Crown
Toyota Motor Philippines continues to be the No.1 automaker in the country. This comes after the company shared it sold a record high of 218,019 vehicles in 2024. The record sales achievement was confirmed by TMP Chairman Alfred Ty during a recent company event.
The total vehicle sales for 2024 consist of vehicles sold by Toyota and Lexus, combined. Also, Ty mentioned that thanks to the all-time high record sales, the Philippines is part of Toyota's top 10 markets globally. In addition, Toyota Motor Philippines was able to contribute PHP 35 billion in taxes and duties as well as achieve over USD 1 billion in terms of auto parts export sales.
Out of the 218,019 vehicles sold by Toyota in the country, over 60,000 units sold were locally manufactured in the Philippines, with the Vios still the leader in terms of vehicle sales. Meanwhile, Lexus was able to sell 2,263 cars in 2024 – becoming the leader in the premium segment. Last but not least, the record sales figures also translated to PHP 196 billion in business profits according to a high-ranking executive within TMP.
With the Philippine Auto Industry selling a total of 474,000 vehicles last year (beating 2017's 473,943 units sold), TMP's record sales means 46% of all brand-new vehicles in 2024 were Toyota and Lexus.
“The rapid and significant influx of automakers and brands is a very welcome indicator for me. I have always said that the one thing that attracts automakers the most to any market is increasing sales volumes,” said Alfred Ty, TMP Chairman.
With the next-generation Tamaraw now available to customers, Toyota Motor Philippines has another volume driver that could potentially increase its sales even further in 2025.
