Toyota Motor Philippines president Atsuhiro Okamoto said due to the new coronavirus disease 2019 pandemic, this year’s sales could decline by 40 percent.
“At a such declining market, Toyota wants (to) be the first to recover and lead the market recovery,” Okamoto said at a press conference at the end of the digital launch of the Toyota Wigo, its low-cost passenger car.
Braving the soft market, TMP said it aspires to lead the industry’s recovery from the slowdown due to the pandemic.
Okamoto said the Wigo managed to capture 69 percent market share in its category of low-cost passenger car market as of 2019.

The company hopes to maintain the Wigo’s leadership in its category with a refreshed model that comes in six variants. The Wigo is geared towards budget-conscious and first-time car buyers.
Okamoto said TMP eyes to sell 1,400 units per month for the new Wigo.
For the year, he said, TMP targets to sell 11,000 units of Wigo of which 8,000 are the new model.
The Wigo has become the car of choice of young professionals, young couples, starting families and students who want the practicality and reliability of a fun-to-drive car.
The Wigo sold 83,000 units since its launch in the Philippines in 2018.
“We are more than ready to embrace innovations in the digital world; and even in crisis, we move forward and drive towards a better future,” Okamoto said.