After a tough 2020, the country’s number one automaker, Toyota Motor Philippines is reporting an uptick in both sales and production figures in the first month of 2021, a positive sign that the automotive industry is on its way to recovery.
Figures released by Toyota Motor Corporation reveals that its local subsidiary sold 10,820 units—a 21.7 percent year-on-year increase. This makes the Philippines one of the strongest markets for Toyota across Asia-Pacific in terms of year-on-year performance.
Of course, overall 2021 performance might be dampened, depending on the effects of the DTI Safeguard Tariff which, for the carmaker, takes effect in March 2021.
In terms of production, Toyota Motor Philippines assembled a total of 3,532 units in January, a 0.7 percent increase year-on-year. This includes the refreshed 2021 Innova which was just unveiled this month. The Vios is also expected to gain a sporty variant called the Yaris GR-S (lead photo) in the coming months.
Globally, Toyota reports that its January sales are up 5 percent year-on-year, driven primarily by China and Japan.
In Japan, the Harrier, Yaris, and Raize remained strong despite a hike in consumption tax, while in China, demand for the Corolla, Levin, Camry, and Avalon helped increase sales there by 41 percent year-on-year.
Source: Car Guides PH
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