Industry leader Toyota Motor Philippines expects a seven- to nine-percent growth in 2011 following a whopping 23.08 percent rise in sales last year.
Michinobu Sugata (right-most in photo above with fellow Toyota executives), president of Toyota in the Philippines, said the sales this year are expected to reach up to 62,000 units after a record in sales of 56,855 units in 2010. He said 2010 sales figures were "inflated" due to spending during the national elections and the demand as typhoons and floods damaged thousands of vehicles during the late-2009 typhoons.
Sugata added, however, that the company's conservative forecast for 2011 may still be "higher if the new administration can boost the economy."
Aside from posting record sales in 2010, Toyota said its manufacturing plant in Santa Rosa, Laguna also posted a its all-time high in output with production reaching 28,412 units.
While it is more than 20,000 units ahead of second-ranking Mitsubishi in terms of sales, Toyota said it will further expand its business in the Philippines to serve more motorists.
"We are working on the expansion of our dealer network and service facilities to ensure customers who purchase Toyota will be happy that they made the right choice," Sugata said.
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Main photo by Mikko David, gallery photos from Toyota