Toyota remains as the top-selling brand in PH, Lexus tops PH luxury market
2 min read
This probably does not come as a surprise anymore but Toyota Motor Philippines (TMP) has once again topped the charts in local automotive sales, besting all other brands in the Philippine market, just like pretty much everywhere else in the world.
The achievement was announced at a recent media thanksgiving party held with members of the local motoring media and content creator community.
The Japanese automaker sold a total of 198,188 new vehicles in 2023. That translates to a 14.4% increase compared to the previous year and a 45.37% market share. As always, it is led by the Vios subcompact sedan which remains a very popular choice.
TMP launched last year a handful of new models and new and updated variants of existing variants including the all-new versions of the Innova, known as the Zenix and sold alongside the previous generation; as well as the all-new Wigo and Alphard. The company also introduced the Yaris Cross to the lineup and updated versions and new variants of the Corolla Altis, Veloz, Hilux, and Fortuner.
For this year, TMP is set to begin production of the all-new Tamaraw, which makes a comeback after a long absence, at their Sta. Rosa, Laguna manufacturing plant. This is in addition to other expected launches and updates.
Meanwhile, Toyota’s luxury arm Lexus also topped the sales charts in the local luxury vehicle market as it more than doubled its sales with 1,843 units sold. That equates to a growth of 114.05% compared to the previous year, while cornering 42% of the market.
