MANILA, (PIA) — Toyota Motor Philippines Corporation (TMPC) announced plans to launch approximately 20,000 units of the next-generation Tamaraw utility vehicle during its first year of production in the Philippines.
The ceremonial roll-off event for the new model took place on November 28 at the company’s manufacturing facility.
The base model of the Tamaraw is set to be priced below P800,000, with sales expected to begin in January 2025.
TMPC President Masando Hashimoto expressed optimism about the vehicle’s market performance, projecting monthly sales between 1,500 and 1,800 units.
“We are excited to bring this new model to the market and anticipate strong demand,” Hashimoto said during the event.
He confirmed that the locally made Tamaraw will be powered by a conventional internal combustion engine, although the company is considering the development of an electric vehicle variant if local demand arises.
TMPC plans to source approximately 25% of the Tamaraw’s parts locally, while other components, including the engine, windows, and batteries, will be imported.
The automotive giant has invested around P1.1 billion in a new 1.5-hectare conversion facility, which is expected to revitalize the production of the Tamaraw in the country.
Additional details regarding pricing and specifications for the new vehicles will be released on December 6. (JCO/PIA-NCR)
