Toyota Motor Philippines (TMP) recently held its annual Christmas lunch with the media, and as mentioned, this year’s announcements were about the achievements that were made under the tenure of Satoru Suzuki, the outgoing President of Toyota Motor Philippines. One of his announcements was about the P4.5 billion Luzon logistics hub that is currently under construction, which he says will improve Toyota’s delivery efficiency for its imported completely-built units (CBU).
As the ninth-largest automotive market for Toyota globally, Suzuki-san wanted to make sure that their entire team will be able to sustain its growth in the coming years. This includes transitioning from an automotive company to a mobility company. As such, TMP will introduce long-term leasing in the near future. Rather than customers having total ownership of their vehicle, leasing shall give owners long-term access to the vehicle without paying a huge sum of money–usually around 20% of the total cost followed by monthly payments that will depend on the duration of the lease.
Additionally, TMP also sees that digitalization will be key for its sustained growth for the coming years. As such, TMP will be launching a new smartphone app designed to make it faster and easier for customers to purchase, browse, and schedule maintenance appointments across all of its dealer networks.
TMP has not given any details regarding the launch of the new smartphone app, but with Toyota’s new business model and digitalization methods, it will surely attract new customers, especially those looking for a financially easier way to own a vehicle.