THE CONTINUED improvement of the Philippine economy may prompt Toyota Motor Corp. (TMC) to boost its local production of vehicles and auto parts, and even export completely built vehicles from its Sta. Rosa manufacturing facility.
In a recent interview, TMC executive vice president Yukitoshi Funo said the company?s business in the Philippines, through Toyota Motor Philippines Corp. (TMPC) and Toyota Autoparts Philippines Inc. (TAP), continued to increase.
?Our business is increasing. The economy of the Philippines is getting better. The Philippines was among the countries least affected by the Lehman financial crisis. This means we could increase the volume base for manufacturing, both for auto and component parts,? he told reporters.
While the company did not plan to export anything but component parts at this point, he said the growth of TMC?s business in the Philippines would dictate whether the export of CBUs was feasible.
?At this point, we don?t plan to export but as we grow, we?ll explore the possibility of exporting auto,? he said.
Established in September 1992, TAP produces transmissions and constant velocity joints, mainly for the export market. Production hit around 300,000 units of components last year, of which 290,000 units were exported.
The company?s Sta. Rosa plant employs around 1,300 individuals.
TMPC is the country?s largest car assembler and dealer, selling 31,745 units in the first seven months, for a market share of 32.4 percent.
The company?s bestselling units are the locally assembled Vios and Innova, which are both projected to register 12,000 units in sales this year.
In an earlier interview, TMP vice president for corporate affairs Rommel Gutierrez said the auto firm targeted to sell 57,000 vehicles this year, 23.4 percent more than the 46,193 units it sold in 2009.
In July, TMP?s sales target was only 50,000 units for the entire year. He said the upward adjustment was made to keep pace with the bullishness of the market, following the industry?s strong performance in the first half.
