Toyota Motors Philippines Corp. (TMPC) expects to make a u-turn from its huge slump his year.
TMPC vice president for corporate affairs Rommel Gutierrez said its vehicle sales should increase by at least 10 percent next year or the same as the industry forecast.
“I think we’re 10 percent next year from whatever is the actual figures this year,” he said.
For the past 11 months, sales of the vehicle manufacturers’ group declined by 14.4 percent to 325,465 units from 380,179 units in the same period last year.
TMPC performed worse than the industry as its sales fell 16.9 percent to 138,476 units from January to November this year from 166,601 units sold a year ago.
Despite poor turnover, the Japanese carmaker remained the top selling vehicle brand in the Philippine market.
Gutierrez said the industry expected 2019 to be a rebound year with the massive spending during the coming election.
Gutierrez said local production of its best-seller, Vios, would hit 33,000 units next year.
This model, registered under the Comprehensive Automotive Resurgence Strategy (CARS) Program of the government, will increase its localt content to 40 percent from the current 30 percent. (PNA)
