Hanoi (VNA) – Toyota Motor Philippines Corp. (TMP) expects its vehicle production to decline in 2026 from last year’s record high amid weak domestic demand and economic pressures, according to The Philippine Star.
Sherwin Chua-Lim, TMP Senior Vice President, said the company expected to produce around 60,000 vehicles this year, below the 63,803 units recorded in 2025. He attributed the outlook to soft demand in the Philippine automotive market.
According to TMP data cited by The Philippine Star, the company produced 38,221 vehicles from January to August, down 10% from 42,469 units in the same period last year. TMP currently assembles three car models – Vios, Tamaraw, and Innova – at its plant in Laguna. The Vios accounted for 48% of output, or 18,321 units, followed by the Tamaraw with 12,468 units and the Innova with 7,432 units.
Production showed signs of recovery in July, rising to 6,550 units from 5,540 units a year earlier. In August, TMP produced 4,970 units, up by 9.5% from 4,540 units in the same month in 2025.
Despite the initial recovery, TMP said demand remains soft due to macroeconomic factors. High inflation has weighed on Filipinos’ purchasing activity./.
