Toyota expects 25% hike in parts exports

MANILA, Philippines - Toyota Motor Philippines expects a 25- percent increase in their parts exports to breach the P1-billion mark this year as ASEAN countries recover from the recent global economic slowdown.

Speaking with reporters at the launch of the Toyota Caravan Monday night, TMP president Michinobu Sugata said that parts exports will go up this year to P1 billion from the P800 million recorded a year ago.

Sugata said they will maintain the Philippines as their ASEAN hub for the manual transmission of Toyota.

Unfortunately, Sugata said the export of their locally produced Inova and Vios is not possible at the moment. “The export of CBUs (completely built up) is difficult because we have less local suppliers.”

Sugata said he has already informed Board of Investments (BOI) managing head Cristino L. Panlilio during their meeting that the exports of CBUs will be difficult because of the local supply base.

Meanwhile, Toyota launched yesterday the “Toyota Caravan” which will be held from Oct. 5-10, 2010. The Toyota Caravan will feature various exciting deals and offers, which include downpour of discounts, attractive trade-in deals, and daily entertainment for the family.

Based on the results of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) last August, TMP remains as the leading automotive company in the country. To date, TMP sold 36, 594 units, garnering 32.5 percent market share. Its locally manufactured Vios continues to be the bestselling vehicle in the market with sales of 9,724 units as of August this year. With this, Toyota maintains its leadership in the passenger and commercial vehicle segments as well as overall sales, cementing its hold to the Triple Crown Title.