MANILA, Philippines - Outbound shipments of automotive parts of the Toyota Group from the Philippines fell 13 percent in the first quarter from a year ago due to lower volume requirements of other countries.
Toyota Motor Philippines Corp. (TMPC) vice president for corporate affairs Rommel Gutierrez told The STAR yesterday the value of Toyota Group’s exports declined to $220 million in the first quarter compared to the same period last year.
He attributed the decrease “to reduced order from Japan, US and ASEAN (Association of Southeast Asian Nations).”
Despite the lower value of shipments in the first three months of the year, the firm wants to hit $1 billion worth of exports by yearend.
Last year, exports of the Toyota Group reached $940 million, down slightly from the $965 million in 2012.
The Toyota Group is hopeful its export sales would rise this year citing expansion plans reported by its individual suppliers to the Philippine Economic Zone Authority (PEZA).
Among those planning to expand this year are TRP Inc., Philippine HKR Inc., Philippine Auto Components Inc., Jeco Autoparts Philippines Inc., Koyo Manufacturing (Phils.) Corp., and Technol Eight Philippines Corp.
The Toyota Group includes Toyota Autoparts Philippines, Inc. (TAP) as well as other domestic makers of vehicle parts used in Toyota’s assembly plants in other parts of the world.
The TAP, which has a plant located in Sta. Rosa in Laguna, produces G-Type manual transmission, R-Type manual transmission and constant velocity joint.
The bulk or 95 percent of TAP’s output is exported to countries such as Thailand, Indonesia, India, South Africa, Malaysia, Vietnam, Taiwan, Japan, Pakistan, and Venezuela.
The TAP likewise provides parts to support TMPC’s assembly operations.