Toyota Motor Philippines Corp. (TMP) has tapped P2.9 billion in tax payment credits under the government’s Comprehensive Automotive Resurgence Strategy (CARS) program, but the incentives pale beside the scale of the carmaker’s taxes paid and export footprint, according to government and industry data.
A trade insider said TMP’s actual receivables could be higher, as the company has been billing the government for fiscal support and production volume incentives tied to the same program. Even so, the amounts remain marginal relative to TMP’s broader economic contribution.
At a Jan. 29 press briefing, TMP Senior Vice President for Marketing Division Sherwin Chua-Lim said the company remitted P43 billion in taxes in 2025, underscoring Toyota’s position as one of the government’s largest corporate taxpayers. Of this, about P29 billion—or 67 percent—came from ad valorem excise taxes on vehicle sales. Value-added tax payments reached P4.3 billion, while customs duties totaled P1.26 billion.
TMP’s supply chain also delivered a major export boost. Chua-Lim said Toyota suppliers shipped USD1.09 billion worth of parts and components in 2025, accounting for roughly 30 percent of total Philippine auto parts exports. “This pushed the country’s integration into global trade in 2025,” he said.
Local sourcing for completely knocked-down (CKD) models—including the Vios, Tamaraw, and Innova—hit P17 billion, supporting domestic manufacturers and service providers. CKD output climbed 6 percent year on year to 63,803 units, the highest level since 1989, aided by expanded in-house conversion capabilities for specialty Tamaraw variants such as ambulances, telecom vans, and race vehicles.
TMP’s workforce investments reached P3.9 billion in wages and benefits in 2025, while its broader employment network now supports more than 83,000 Filipinos.
Separate figures showed Toyota Group suppliers generated USD498 million in exports, about half of total Toyota-linked shipments. Toyota ended 2025 as the market leader, with TMP and Lexus capturing 46 percent share on sales of 229,447 units.
