Toyota Motor Philippines (TMP) recently held its annual Christmas lunch with the media. This year’s announcements were about the achievements that were made under the tenure of Satoru Suzuki, President of Toyota Motor Philippines. As you may now know, his three-year tenure in Toyota Motor Philippines is already coming to an end, leaving a long legacy of maintaining Toyota’s number one position in the automotive industry despite challenges for the past two years.
In his farewell speech, Suzuki-san has highlighted Toyota’s plans for the coming years. One of these is the completion of its new Luzon Hub, a P4.5 billion investment that aims to revolutionize Toyota’s logistics system.
Last year, TMP sold a total of 152,389 units, with the locally-made Vios and Innova having a combined sales figure of 44,015 units. This means that the remaining 108,374 units are all imported cars. Thus, Toyota seeks to further improve the efficiency of its logistics system especially since they are also the largest importer of vehicles into the Philippines.
Additionally, the Philippines is a key market for Toyota Motor Corporation as it is the brand’s 9th largest market globally. To say that its economic presence in the Philippines is important is an understatement.
TMP did not say any further details about its new Luzon Hub, other than the fact that it should be completed by late 2020. Nevertheless, the country’s highest-selling automotive brand should be able to better serve its customers through the opening of its new logistics hub for CBU units in late 2020.