MANILA, Philippines - Shipments of the Toyota Group went up by a fifth to nearly $1 billion last year from 2011 amid higher demand from overseas.
Rommel Gutierrez, vice president for corporate affairs of Toyota Motor Philippines Corp. (TMPC) revealed that export sales of the Toyota Group rose to $963 million last year from $802 million in 2011.
He said the higher value of shipments was “due to increase in volume requirements in the US, Europe, Japan and ASEAN (Association of Southeast Asian Nations) markets.â€
Shipments of the Toyota Group in 2011 had been affected by disruptions caused by heavy floods in Thailand as well as the devastating earthquake and tsunami in Japan that year.
The Toyota Group includes subsidiary Toyota Autoparts Philippines, Inc. (TAP) and other domestic makers of vehicle parts being shipped to the firm’s assembly plants in other parts of the world.
Gutierrez said export sales of TAP alone reached $243 million last year, also higher than the $195 million in 2011.
TAP’s plant is located in Santa Rosa in Laguna.
It ships 95 percent of its output to other countries such as Thailand, Indonesia, India, South Africa, Malaysia, Vietnam, Taiwan, Japan, Pakistan, and Venezuela.
TAP also provides parts to TMPC’s assembly operations.