By Dax Lucas, Inquirer Business
The statistics for Toyota Motors Philippines (TMP) are impressive.
According to the company’s chair, Alfred Ty, the firm delivered its two millionth Toyota vehicle in March of this year, just as it celebrated its 34th year in the country earlier this month.
More importantly, they expect to deliver the one millionth vehicle from their world-class Toyota Santa Rosa plant by the end of 2022, to make the Philippines the tenth largest market for the Japanese global automaker.
Employing over 63,000 employees throughout the group, the company has also contributed an estimated $17.1 billion in terms of auto component exports to the global Toyota network since 1997.
In return, Toyota’s inward investments to the country have reached P73 billion while TMP’s total contributions to the government in terms of taxes have reached P426 billion over this same period.
But what does a company do when it is already the largest automotive company in the Philippines with a dominant share of the local market? How does one grow further when one is already the undisputed leader?
For TMP, the answer is simple: change the game. Last week, TMP launched Toyota Mobility Solutions Philippines Inc., a wholly owned subsidiary that will be a provider of mobility-related services.
Beyond just selling cars, Toyota Mobility Solutions will develop and offer a range of new solutions that will enhance the brand “that creates value for society through a service business model.”
According to TMP president Atsuhiro Okamoto, this new venture will “better shape the industry’s role in building our modern societies and enriching human lives.”
This translates to a suite of technology and data-driven lifestyle and business solutions that will provide fleet-connected services, on-demand shuttle booking app, car sharing or rentals, a logistics matching service, and fleet management service.
Additionally, this will complement Toyota Financial Services Philippines Corp. in promoting and managing units under its full operating lease product called KINTO, similar to vehicle lease programs in the United States.
More importantly, the company is also doubling down on its investments in hybrid and electric vehicles, as more and more people become conscious about tempering the effects of climate change by reducing their carbon footprints.
All told, it’s a whole new ballgame for Toyota and the Ty family empire. Watch this space, folks.
