TMP’s Q1 performance was part of the GT Capital Holdings, Inc. (GTCAP/GT Capital) report submitted to the Philippine Stock Exchange on Friday, May 15, covering the group’s overall Q1 2026 performance, which also showed a slight 3 percent decline in consolidated net income.
The report showed that TMP’s core net income stood at PHP7.96 billion, down from PHP8.70 billion in the first quarter of 2025. The results reflect the impact of a broader global economic slowdown during the first quarter, marked by supply chain disruptions, elevated fuel and commodity prices, and heightened foreign exchange volatility.
Vehicle sales during the period reached 51,922 units, reflecting a 6.5 percent decline from 55,513 units in the same period last year. However, TMP’s Q1 performance reflected a softer decline compared to the industry’s 7.2 percent slump in sales during the January-to-March period this year.
Still, TMP continued to lead the Philippine automotive sector with a 46.1 percent market share. Electrified vehicle sales accounted for 10.6 percent of TMP’s overall sales volume during the three-month period, representing 40.3 percent growth from last year and reflecting the growing adoption of electrified vehicles (xEVs) in the Philippines amid persistent fuel price volatility.
“As anticipated, TMP experienced the effects of wider economic challenges in the first quarter, particularly the impact of foreign exchange movements, supply chain disruptions, and softer consumer demand for vehicles amid rising fuel costs,” TMP President Masando Hashimoto said.
Nonetheless, Hashimoto expressed confidence, citing bright spots such as the company’s growing presence in the electrified vehicle and light commercial vehicle segments, supported by incentives received under the government’s Comprehensive Automotive Resurgence Strategy (CARS) program.
As part of its expansion into the xEV segment and in line with its Beyond Zero initiative, TMP expanded its electrified lineup to 20 models, including the flagship Toyota bZ4X BEV, entry-level Toyota Urban Cruiser BEV, and the highly anticipated Toyota RAV4 HEV. TMP currently offers two pure EV models — the bZ4X and Urban Cruiser.
TMP’s luxury brand, Lexus Philippines, has one pure EV model, the RZ. Lexus also recently launched its latest IS model, a luxury sedan available in both hybrid and F Sport variants.
Beyond introducing new electrified models, TMP is also advancing electrification through sustainability initiatives anchored on the strengthened capabilities of En Tsumugi ELV Dismantler Corporation, the country’s pioneering Toyota-endorsed end-of-life vehicle dismantling facility.
Following the completion of specialized training in xEV battery handling last month, En Tsumugi is now better equipped to safely process and manage high-voltage battery systems, supporting the recovery and responsible treatment of critical EV components as part of TMP’s broader push toward a more circular mobility ecosystem.
GT Capital
Overall, GT Capital reported a consolidated net income of PHP8.91 billion for the January-to-March 2026 period, slightly down by 3 percent from PHP9.14 billion in the same period last year.
Despite these challenges, its financial arm, Metropolitan Bank & Trust Company (Metrobank), posted a 3 percent increase in net income to PHP12.6 billion in the first three months of 2026, while GT Capital associate Metro Pacific Investments Corporation (MPIC) recorded a 5 percent increase in core net income to PHP6.9 billion.
Metropolitan Bank & Trust Company (Metrobank) reported a net income of PHP12.6 billion in the first quarter of 2026, driven by modest asset expansion, improved margins, and healthy fee income growth. Total consolidated assets expanded by 8.3 percent to PHP3.8 trillion, making it the second-largest private universal bank in terms of assets.
“Our first quarter results underscore the resilience of Metrobank’s core businesses and the consistency of our execution. With strong capitalization, solid asset quality and healthy buffers, we remain well-positioned to manage risks while continuing to support the growth and funding needs of our customers,” said Metrobank President Fabian S. Dee.
In the first quarter, Federal Land, Inc. (Federal Land), GT Capital’s wholly owned property subsidiary, remained resilient amid the continued slowdown in the property sector, reporting reservation sales of PHP3.8 billion.
Metro Pacific Investments Corporation (MPIC) reported a 5 percent increase in consolidated core net income to PHP6.9 billion from PHP6.6 billion in the same period last year, reflecting the group’s resilience amid elevated energy prices and a more volatile global environment.
AXA Philippines Life and General Insurance Corporation (AXA Philippines) posted a 13 percent year-on-year increase in the annual premium equivalent (APE) of its life business to PHP1.5 billion, driven by the strong performance of its single-premium, protection, and health products.
