PH vehicle sales expected to breach 500k-unit mark in 2025, TMP exec says

MANILA: The local automotive industry is expected to see improved sales figures in 2025.

In a recent engagement with the media, Toyota Motor Philippines (TMP) Chairman Alfred Ty said that the company projects that players in the Philippine automotive arena could sell more than half a million units this year. 

Last year, the Chamber of Automotive Manufacturers of the Philippines, Incorporated (CAMPI) and the Truck Manufacturers Association sold 467,252 examples — an eight-percent rise over the 429,807 units delivered to customers tallied in 2023.

The brand’s executive attributed the marque’s bold prediction to the following factors: 

• Expected increase in gross domestic product by six percent
• Growing consumer loan portfolio
• Expanding overseas Filipino workers’ remittance 
• Improving business process outsourcing earnings 
• Projected continuation of government, private business infrastructure spending 
• Current exchange rate
• Election-related spending

“As we welcome 2025 and the Year of the Snake, the prospects of the industry are quite encouraging,” Ty stated. 

“As a result, we are projecting a growth of over 500,000 units — half a million new cars — exactly 512,000 units, representing a growth of eight percent for the whole industry in 2025,” he added. 

Ty also said that the projected growth of the Philippine automotive market in 2025 will open up new horizons for local production that will help the government strengthen the manufacturing sector.

To note, the next-generation Toyota Tamaraw is produced locally at the brand’s Santa Rosa Laguna facility. The light commercial vehicle is joined by two “proudly pinoy-made” nameplates, which are the Vios sedan and Innova multi-purpose vehicle. 

TMP’s 2024 in numbers  

In 2024, TMP and Lexus — the company’s luxury division — sold some 218,019 units. The said numbers contributed to the country’s annual industry sales of 474,000 last year. 

According to TMP, the aforementioned number reflected a nine-percent growth compared to its sales back in 2023. 

Below are some of the marque’s other achievements in 2024: 

Secured jobs for Filipinos	Over 69,000
Government revenue contribution	P35 billion
Auto parts export	P58.709 billion

“For me, this new record is much more than a set of numbers. To me, it represents a nation and a set of people on the move — always on the move,” the company’s Chair noted. 

“The increased sales mean increased mobility for Filipinos, moving people, moving goods and services across the country, it reflects a growing and vibrant economy. Increased car sales also mean more jobs, more revenue for the government, more investments for the country, more know-how transfer, more fun, more sightseeing, more enjoyment, and more family time,” Ty added. 

“We at Toyota are happy that we can continue to play a significant role in the country’s rapidly transforming automotive industry,” he commented. 

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