Toyota Motor Philippines Corp. is preparing to put more money behind its next-generation Tamaraw, with plans to enter the vehicle in a new government incentive programme for locally built cars. The carmaker made the announcement as it previewed a Class 1 modern public utility vehicle (MPUV) version of the model aimed at jeepney operators.
Company chairman Alfred Ty told reporters that Toyota intends to enrol the Tamaraw in the Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) programme once its rules are set. The Department of Trade and Industry and the Board of Investments are still working on the guidelines, and Ty said the firm has been told the process is moving. RACE is meant to follow the Comprehensive Automotive Resurgence Strategy, known as CARS. Unlike the separate incentive scheme for electric and hybrid vehicles, it will support cars with petrol or diesel engines.
Toyota has already spent P5.5 billion on production, parts localisation and conversion work for the Tamaraw, which went on sale in 2024. The MPUV carries a price of P1.389 million and is eligible for a government subsidy of P210,000 a unit. Beyond passenger routes, the company sees uses for the platform as ambulances, patrol cars, fire trucks, food trucks and community shuttles. Local body builder Almazora Motors Corp. has set up a dedicated plant able to turn out about 300 units a month, and total supplier investment linked to the vehicle has reached P555 million, according to executive vice president Conrad Almazora.
Senior vice president Sherwin Chua-Lim said Toyota will start by making at least 15 units a month and will adjust output to demand. He put the potential market at more than 100,000 units. Transport operators have reacted well, he said, but no sales have been closed yet because subsidy and financing approvals take time. Toyota is in talks with at least 10 transport groups about possible orders. Ty said buyers will get after-sales service and a warranty, which he said offers “peace of mind” to owners, drivers and passengers.
The push comes as the government continues its long-running effort to replace ageing jeepneys with modern units, a programme that has faced resistance from some drivers and operators over cost. For Toyota, a successful RACE application would add support for a model it has already backed with heavy local spending. The next step depends on when the trade department and the investment board finalise the scheme’s terms, and on how quickly operators can secure the loans and subsidies needed to place their first orders.
