Toyota Motors Philippines bags 17th consecutive Triple Crown
Photo File From THEPHILBIZNEWS
Despite the challenges experienced last year by automotive industry in the Philippines that brought down the sales to 6%, Toyota Motor Philippines gladly shared to the media during the Media Appreciation Night held at the Grand Hyatt Hotel in Bonifacio Global City last January 25, that it has bagged the coveted 17th Triple Crown Award.
The media was welcomed by Alfred Ty, Vice Chairman Toyota Motors Philippines, son of the late George S.K. Ty, Chairman of Toyota Motors Philippines, and acknowledged and express gratitude for the unwavering support of TMP’s closest allies.
The young Ty also expressed his deepest gratitude for the sincere gestures of sympathy accorded to their bereaved family on the passing of his father.
The Vice Chairman of TMP also shared the challenges faced by bot only by the local auto industry but also for all the major economies in the word that slowed down the car sales in the country. However, he was delighted about the milestone that TMP has achieved in 2018 by celebrating the 30th year of Toyota Motors Philippines in 2018.
The entire TMP officers, management and staff are truly humbled for the trust and confidence being accorded to them by their customers and they are proud that they are currently taking care of 1,583,852 owners.
Meanwhile, Satoro Suzuki, President of Toyota Motors Philippines said that despite the drop of sales in 2018, Toyota remains number 1 in car sales in the Philippines and this led to the award of 17th Triple Crown.
It was the higher taxes on vehicles under the Tax Reform for Acceleration and Inclusion (TRAIN) Law that really affected the car sales in all the local auto industry. However, Suzuki is confident that whatever effect on higher taxes imputed last year, would not have that much of an impact on vehicle demand for 2019. But they will certainly look into other factors that might affect the sales such as inflation, interest rates and peso depreciation.
“I think the luxury segment is not going to see as much growth as Toyota expected because the luxury segment is a very limited market. Maybe stable, but no jump up expected,” Suzuki said.
But the TMP President is confident that the sales of both TMPC and Lexus will go up at a much faster rate by hopefully next year.
Suzuki also announced that TMPC is increasing its dealership network this year to 72 outlets, and all the three new dealerships to be opened this year will be for Toyota.