5 of every 10 Toyotas sold in PH are through the brand’s own financing service

by Drei Laurel | May 24, 2022
PHOTO: Dinzo Tabamo
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It’s easy to take Toyota’s dominance in the Philippine setting for granted. Frankly, the Japanese brand has been on top of the sales charts for so long that many people just assume the badge does all the selling.

That assumption is partly true, but a lot more work goes into sustaining this performance than you might think. One of the strategies Toyota Motor Philippines (TMP) has at its disposal is its own financing and leasing service.

According to the brand, five in every 10 Toyota vehicles sold locally are now done so through Toyota Financial Services Philippines (TFSPH). This just goes to show that selling cars takes more than just showing them off in a showroom.

TMP isn’t content on standing pat with TFSPH either and is continuously introducing new innovations meant to draw in more customers and improve the overall experience for existing ones.

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There’s the myTOYOTA Wallet, which makes financing your Toyota possible with the brand’s very own mobile payment solution. MyToyota App, meanwhile, lets you purchase parts, accessories, and Toyota services using your phone.

Kinto One is a full-service vehicle lease package and worry-free car subscription model. This covers everything from you Toyota’s periodic maintenance, annual comprehensive insurance, and annual car registration needs. There’s also Kinto One Business, which offers the same convenience for entire fleets.

“The future looks bright for the industry. A recent automotive market Study has revealed that demand for new vehicles is rising in the region, and that vehicle subscription is on the rise in South East Asia, as an alternative to ownership,” TFSPH president Rommel Ocampo said in a statement.

Sounds convenient. Is this a strategy you would like to see other brands go with moving forward?

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PHOTO: Dinzo Tabamo
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