New Toyota Tamaraw to launch in Q4
The iconic Toyota Tamaraw is all set to make its return this year, with Toyota Motor Philippines (TMP) planning to launch the next generation model in the fourth quarter.
Production of the new Tamaraw will start by the third quarter of the year, according to TMP.
It will be the third completely knocked down (CKD) model to be produced at TMP’s manufacturing plant in Santa Rosa City, Laguna.
The new Tamaraw will be a convertible light commercial vehicle that is seen as a more suitable and affordable option for micro, small and medium enterprises, local government units and cooperatives.
TMP is investing P5.5 billion for the production of the next generation Tamaraw, including parts localization and vehicle conversion for new capability.
The new Tamaraw can be converted or customized as a medical van, police car, food truck, transport vehicle and refrigerated freight, among others.
TMP is a joint venture of the Ty family’s GT Capital Holdings Inc., Toyota Motor Corp. and Mitsui & Co. Ltd. industry with an overall market share of 46.2 percent, which was reinforced by higher sales volumes arising from five model launches in 2023.
Toyota’s healthy sales performance earned the company’s 22nd consecutive Triple Crown award as the Philippines’ number one automotive company in passenger car, commercial vehicle and overall sales.
“With the resumption of motorization, the continued under penetration of passenger cars in the country, and an improved supply situation, we are confident that Toyota will continue to lead the way this year. I believe we are in an ideal position to help outline and form the future of mobility in the Philippines,” TMP president Masando Hashimoto said.