CAGAYAN DE ORO CITY – Toyota is pulling out all stops for its re-entry into the Light Commercial Vehicle (LCV) segment of the Southeast Asian Market with the recent launch of its Next Generation Toyota Tamaraw.
LCV stands for Light Commercial Vehicle, which is a commercial vehicle with a maximum authorized mass (MAM) or design gross vehicle weight (DGVW) of 3.5 tons or less. LCVs are designed to transport goods and materials and are often used in city operations or between large cities.
LCVs are often compact versions of trucks, and are designed to be resistant, fuel efficient, and have low running costs. LCVs are versatile and were the most commonly sold commercial vehicles in Europe in 2022. Some examples of LCVs include light vans and light trucks.
The original Toyota Tamaraw was launched in the Philippines in December 1976, the year when the Asian Utility Vehicle (AUV) was first introduced. The high-side pickup with roof had a 1.2-liter 3K engine mated to a 4-speed manual transmission.
This was followed in the 1980s by the next generation “Super Diesels” (“Singisi ng kotse, singtatag ng truck”/ “As elegant as a car, as tough as a truck”), the third-generation Tamaraw FX wagon “Wonder Vehicle,” in 1993, and finally the Toyota Tamaraw REVO, before production ceased in 2005 in lieu of the Toyota Innova, a part of Toyota’s International Multi-Purpose Vehicle 0 or IMV0 project.
The Toyota SuperDiesel Tamaraw (1993)
During the nationwide launch on December 6, Toyota Motor Philippines (TMP) executives stressed how the new Tamaraw is demand-driven and underwent thorough market research of its target users using the time-honored Japanese tradition of Goyokiki. This practice was common in Japan during the Edo period and referred to the services of merchants who went door to door to each customer to take orders for their products.
Toyota Cagayan de Oro Executive Vice President Dr. Nancy U. Ramirez relates how no less than the chief executives of TMP personally undertook goyokiki during their visit to TCO’s area of operations in Mindanao.
“Both current TMP President Masando Hashimoto and former president Atsuhiro Okamoto personally visited our fleet owners during their visits to our area,” Ramirez said. “They personally consulted with the owners at their workplaces to find out what their client needs are, and what issues they need help with the most.”
Hashimoto himself mentioned consulting clients in 46 Toyota showrooms in the Philippines, and over 50 interviews with local governments and small business owners, as part of his personal goyokiki.
The original Toyota Tamaraw AUV
It wasn’t only fleet owners of LCVs they consulted with, but also other individual owners who were using Toyota utility vehicles for their business, Ramirez recalls.
During the nationwide launch, Jurachart Jongusuk, Regional Executive Chief Engineer of Toyota Motor Asia, stressed how the extensive goyokiki conducted with Toyota users was a key factor in the Next Generation Tamaraw’s development to meet most conceivable customer needs, and how the Tamaraw model range can adapt to every market demand.
The Next Generation Tamaraw will be the third locally produced model in Toyota’s conversion plant in Santa Rosa, Laguna after its Toyota Vios and Toyota Innova.
TMP plans to introduce ambulance, patrol van, telco van, and refrigerated van conversions of the Next Generation Tamaraw. Toyota Mobility Solutions Philippines (TMSPH) will also be offering conversions of the Next Generation Tamaraw as a food truck, pet grooming vehicle, mobile store, mobile service vehicle, and mobile LED. Customers can look forward to the availability of these conversions in the near future.
The Next Generation Toyota Tamaraw
Quotations for customized versions of the Tamaraw and financing options from Toyota Financial Services Philippines (TFSPH) are available for customers upon request.
The Next Generation Tamaraw is available with a 2.4-liter diesel engine and a 2.0-liter gasoline engine, both offered with manual transmission options. The Tamaraw GL Dropside’s diesel engine will also be available in automatic transmission.
It will also be offered on two wheelbases: a short wheelbase with a deck length of 2.4 meters and a long wheelbase with a 2.7-meter deck length. It also uses Toyota’s IMV platform seen in the Toyota Hilux to ensure durability. The short wheelbase will be cheaper, with a “target starting price of below P800,000,” TMP Chairman Alfred Ty said on November 28.
The Toyota Next Generation Tamaraw will be available starting January 3, 2025 with the following prices:
· Tamaraw 2.4 Utility Van DSL (manual transmission) – P1,142,000
· Tamaraw 2.4 GL Dropside DSL (automatic transmission) – P1,075,000
· Tamaraw 2.4 Aluminum Cargo DSL (manual transmission) – P1,041,000
· Tamaraw 2.4 Dropside DSL (manual transmission) – P937,000
TFSPH offers an option of 10% down payment (instead of the usual 15%), up to seven years to pay (instead of the usual five years) via its Kabuhayan on Wheels financing. This means a mere down payment of P93,700 for the manual, and P107,500 for the automatic, based on the introductory price. To further sweeten the pot, Toyota will also accept trade-ins with vehicles of any brand.
With this kind of package offered to potential customers, Ramirez is optimistic the demand for the Next Generation Tamaraw will be robust, and even exceed even Toyota’s expectations for its re-entry into the Light Commercial Vehicle market.
CDO Launch of NextGen Toyota Tamaraw anchored by Queen A UM (RMB)
LCV Market Projections
The light trucks market segment includes all light commercial vehicles (LCVs) and light buses and coaches (LBCs) weighing up to 3.5 tons. This includes pick-ups and vans but excludes sports utility and similar vehicles.
The Asia-Pacific light trucks market continues to expand strongly by value and volume, as the Chinese and Indian markets grew particularly rapidly. The market is projected to sustain strong growth through the forecast period. LCV purchasers are principally businesses. Trends in sales of new LCV’s are therefore often interpreted as a sign of business confidence in the immediate and short-term future, which remains strong in Asia-Pacific.
Light Commercial Vehicles is the largest segment of the light trucks market in Asia-Pacific. It accounts for more than two-thirds of the market. China owns the largest share in the Asian Light vehicle market in terms of capacity. Japan is second in the ranking list.
In the Asia-Pacific light trucks market, there are a small number of large companies, among whom competition is fierce. Following the global economic downturn that has been experienced on a global scale, in the face of falling sales some companies such as Nissan entered partnerships and is restructuring. However, these market players have since managed to recover fairly well. Companies operating in this market tend to have operations in other markets, such as passenger car manufacturers, which reduces their reliance on the light trucks market to an extent.
