Toyota Motor Philippines Corporation (TMP) posted a significant 57.1% increase in consolidated net income for the first quarter of 2025, reaching Php6.33 billion. This impressive growth was fueled by an 11.8% surge in the company’s retail sales volume, which totaled 55,513 units for the period ending March 2025.
TMP’s strong performance further solidified its position as the leading automotive brand in the Philippines, capturing a commanding 47.3% share of the total industry sales of 117,466 vehicles during the first quarter.
The company’s luxury arm, Lexus, also continued its dominance in its segment, achieving a market share of 53.7% in the luxury automotive market for the same period.
A key contributor to TMP’s success in the first quarter was the highly anticipated reintroduction of the Next Generation Tamaraw in January 2025. This iconic nameplate offers versatile mobility solutions tailored to the evolving needs of Filipinos, particularly local government units (LGUs) and micro, small, and medium enterprises (MSMEs), through its wide array of conversion options. The initial market response to the new Tamaraw has been positive, contributing to the overall sales growth.
Furthermore, TMP continued to actively promote its electrified vehicle (xEV) models as part of its multi-pathway approach to support the Philippines’ decarbonization efforts. The combined sales of Toyota and Lexus electrified vehicles saw a substantial 37% year-on-year growth, reaching 3,938 units in the first quarter of 2025. This represents a significant 42% share of the total electrified vehicle sales in the Philippine market.
“TMP started 2025 with a solid performance driven by the enduring trust of Filipinos in the automotive company’s core attributes of quality, durability, and reliability, and also by the broad popularity of its diverse model lineup,” said TMP President Masando Hashimoto.
Looking ahead, Mr. Hashimoto expressed optimism about the company’s prospects for the remainder of the year. “We expect demand for our vehicles to remain stable for the remainder of the year, due to favourable macroeconomic conditions and heightened consumer spending,” he stated.
This strong first-quarter performance underscores TMP’s commitment to providing high-quality vehicles and innovative mobility solutions to the Filipino market, while actively contributing to the country’s economic growth and environmental sustainability.
Toyota Motor Philippines Corporation (TMP) is the leading automotive company in the Philippines, with a wide range of vehicles catering to various needs and lifestyles. Committed to providing quality, durability, and reliability, TMP has been a trusted partner in mobility for Filipinos for decades. TMP is also at the forefront of promoting sustainable mobility through its growing lineup of electrified vehicles.
