THE Toyota Group in the Philippines contributed 30 percent to total automotive parts exports in 2023 at $665 million.
The group sees opportunity to increase localization of components with the introduction of the new generation of Tamaraw.
Richard Valdez, first vice president of Toyota Motor Philippines Corp. (TMP), in his speech at the Auto Reverse Trade Fair in Pasay City on Tuesday said the Vios, which the company produces in Santa Rosa Laguna, has gone over and beyond the required 60 percent local content under the Comprehensive Automotive Resurgence Strategy.
Valdez said TMP continues to implement strategies to improve capabilities of its supplier network through the Toyota Suppliers Club (TSC) and the Toyota Motor Philippines Logistics Inc. (TLI)
Export of Vios and Innova parts provides opportunities for partakers to generate additional sales, maximize their capacity while supporting other countries where supply is limited.
Valdez said Philippine-made parts under Toyota are exported to 31 destinations in five continents. In 2023, top destinations were Thailand South Africa, Brazil, Taiwan and India.
TLI, established to strengthen Toyota’s indirect exports as part of the regional complementation, generate $200 million in exports annually and integrate suppliers with difficulty exporting on their own. The operations supply both original equipment manufacture and after-market parts and accessories to Toyota global, Valdez said.
