BIG DREAMS
CAMPI through Toyota Motor Philippines, the undisputed market leader since one can remember, projects 2024 total vehicle sales to hit 470,000, putting us close to the Philippine auto industry’s best ever year yet back in 2017 with 473,000 units sold.
But 2024 hasn’t been an easy year for everyone. Many dealers from many brands, including those of Toyota, have had difficulty moving vehicles. A big part is lack of availability of the actual desirable units. Another issue has been financing / leasing obstructions. Toyota dealers in particular are looking for a breakthrough vehicle that can help push sales to the next level, a quantum leap of sorts.
Hope lies with the all-new Tamaraw. Toyota’s latest offering has very big shoes to fill: from its introduction in 1976, to its final year in 2007 prior to this latest model, the Tamaraw was an ever reliable workhorse, a faithful companion and a dependable friend to almost all Filipinos.
For 2025, Toyota expects more growth as it ends the calendar year 2024 with sales of around 218,000. More growth is expected for 2025, with much of it being credited to the all-new Tamaraw. The reason? Economists foresee economic growth to be at 6% for 2025, which will push the Philippines to a middle income economy by late 2025 to 2026. Inflation is on a downward trend, and with it, interest rates should follow suit. And crucially business should boom with a more favorable economic climate, leading to more employment opportunities for the country’s young workforce. This should drive up vehicle sales.
So huge is Toyota’s expectations that it has invested in a brand-new 1.5-hectare body conversion factory worth P1.1 billion, bringing total IMV investment to P5.5 billion. The new factory will create new jobs, bringing in more taxes to the coffers of both LGU and national government. This is aside from the fact that the Tamaraw will be locally-assembled in Santa Rosa, requiring even more line workers, and tapping the local OEM supplier base, thereby generating more goods and services into the local economy, which equates to more salaries and wages, and for the government, more taxes. The Philippines is one of two production bases for the Tamaraw in Asia, an important footnote that shows Toyota’s trust and commitment to the local economy. Hopefully, we will soon export locally produced Tamaraws to our other Asian neighbors and beyond.
The Tamaraw’s entry into the socio-economic landscape will also carry a huge impact: Modern, environmentally friendly and a safer means of affordable mobility will be made available as a modern alternative to ancient AUVs and light commercial fleet vehicles ensuring more efficient and confident travel.
The Tamaraw is the ideal vehicle to build a business and from the ground-up: built atop Toyota’s IMV-0 platform, it is a tried and tested architecture which shares many basic components (particularly suspension and powertrain) with many other IMV vehicles such as the Toyota Hilux, Innova and more. The engines are powerful, yet efficient and meet Euro IV emissions standards.
The Tamaraw is also a perfect multi-purpose vehicle that will suit families involved in small-to-medium enterprises living in more rural environs that need a sturdy, reliable and versatile vehicle. It will also serve as the de facto family car for many years of faithful service, which Toyota recognizes and thus, designed it to last for many years of faithful and reliable service. Thus, Toyota will offer two wheelbase versions (a long and short wheelbase depending on needs) with three body styles readily available providing seven basic variants for greater flexibility allowing it to fit into the specific needs of more customers.
Toyota has ironed out the kinks, identified any potential problems and worked them out. It will be a familiar platform such that if in the unlikely event that it should ever break down, it will be easy and simple to fix, with parts availability readily accessible.
Aside from the business, employment and taxation aspects, the Tamaraw’s affordable yet rugged and reliable, not to mention safer means of mobility is a true gem essential to nation building. As Toyota Motor Philippines’ chairman Alfred Ty says: “The Tamaraw will be a flag-bearer in our goal for creating mobility for all Filipinos.”
The industry looks to break from its current mold and evolve further as motorization and mobility become even more affordable and accessible for all.
