Toyota Motor Philippines Corporation (TMP) has unveiled the highly anticipated Next Generation Tamaraw, which is expected to drive local sales upon its official launch on Dec. 6, 2024.
TMP chairman Alfred Ty projects initial monthly sales to range between 1,200 and 1,500 units, with an ambitious target reaching 2,000 units, positioning the Tamaraw among Toyota’s top three best-selling models in the Philippines.
“At 2,000 per month, that’s two-thirds of the Vios sales, which averages 3,000 units monthly,” Ty said during the roll-off ceremonies at the TMP plant in Sta. Rosa, Laguna.
The iconic nameplate, proudly manufactured at TMP’s Santa Rosa plant in Laguna, represents Toyota’s commitment to supporting the Philippine economy and local automotive manufacturing.
Built on Toyota’s International Multi-Purpose Vehicle 0 (IMV 0) platform, the Tamaraw aims to empower micro, small, and medium enterprises (MSMEs) while offering versatility and durability.
With an annual production capacity of over 54,800 units, TMP’s Laguna facility now produces three completely knocked-down (CKD) models: the Vios, Innova, and Tamaraw.
TMP invested P5.5 billion for new parts manufacturing, including stamping, and mold and die, including P1.1 billion for a new 1.5-hectare body conversion facility.
The TMP Conversion Factory is a regional breakthrough, capable of customizing Tamaraw units into three body styles—dropside, utility van, and aluminum van—with gas and diesel engine options.
TMP Company president Masando Hashimoto said the New Generation Tamaraw has at least 25 percent local content in its initial production phase and will slowly increase localization as it ramps up production of the model.
Toyota Asia Region Deputy chief executive Hao Quoc Tien lauded the facility as “the first of its kind in Southeast Asia,” highlighting its potential to bolster regional competitiveness.
The Tamaraw’s local production is also generating upstream benefits, as TMP’s suppliers—including new and returning parts-makers—have invested P500 million in plant expansions and equipment procurement.
TMP’s ongoing operations contribute significantly to the economy, with cumulative tax payments of P508 billion over 36 years, alongside providing nearly 70,000 jobs through its network of suppliers and partners.
The Next Generation Tamaraw, price starting from less than P800,000 for the entry-level variant, aims to cater to the needs of working Filipinos and MSMEs, offering flexible financing options.
Retail sales will begin in January 2025, promising to make this vehicle a cornerstone of local transportation and enterprise.
“Built by Filipinos, for Filipinos, the Tamaraw embodies Toyota’s dedication to nation-building, quality, and craftsmanship,” Ty said.
The Tamaraw is back, stronger and more versatile than ever, ready to drive progress and mobility across the Philippines.
