Toyota Motor Philippines will increase the production of its compact sedan unit, Vios, to 33,333 units starting in 2016 as it plans to enroll the model for incentives under the Comprehensive Automotive Resurgence program of the Philippine government.
Toyota president Michinobu Sugata told reporters Thursday night that raising the output was mandatory to hit the required 200,000 unit production volume in six years.
“It is a very strict qualification and the requirements are not easy but Toyota will take this challenge. In order to get the full incentives, we have to achieve the 200,000 production level. If we get the $1,000, our competitive edge will very much improve,” he said.
Sugata said all production would be geared for the domestic market, which was ready to absorb bigger volume as the country reached the age of motorization.
Toyota plans to invest more for the new model change of Vios.
Sugata said the company spent P billion for the recent full model change of Vios in 2013.