Moreover, Ty says that Toyota Motor Philippines is on track to reach around 215,000 to 218,000-unit sales in 2024 resulting in a commanding 46 percent of the market. This marks the second straight year that the Japanese carmaker will breach the 200,000-mark—the first being in 2023.

Remarkably, this year-end figure does not include the recently-launched next-generation Tamaraw. That said, Toyota has high hopes for the commercial vehicle which begins its retail sales in January starting with the long wheelbase (LWB) diesel variant.

Other vehicles set to make their debut in 2025 include the all-new Camry.

Ty also says that Toyota’s investment in electrified vehicles has paid off with sales of new vehicles fitted with the said technology—whether hybrid or full electric—has doubled compared to 2023.

Thanks to the Marcos Administration’s executive order that cut down import duties not just for EVs, but for hybrids and plug-in hybrids as well, sales of these vehicles will be projected to hit around 18,000 units. Though that may seem like a lot, this accounts to just 4 percent of total new car sales. It’s also in lock-step with 2023’s electrified vehicle sales figures which hovered at around 4 to 5 percent.

Of note, this percentage figure of electrified vehicles sold in the Philippines does not include figures from BYD. BYD has so far refused to divulge their sales data since the launch of the Sealion 6 DM-i in July.