Toyota to assemble Vios locally

Toyota Motors Philippines Corp. (TMPC) plans to start assembling completely knocked down (CKD) Vios vehicles in the country next year, according to TMPC senior executive vice president Serafin Pantaleon.

At present, TMPC imports the Vios model as a completely built-up (CBU) unit from Thailand.

However, because of its popularity and continuing high demand, Pantaleon said, TMPC has decided to start assembling CKD packs of the fuel-efficient Vios model in the Philippines.

TMPC, Pantaleon said, is already in the preparation stage for the local assembly of the Vios and actual assembly would start next year.

TMPC, Pantaleon said, sells about 800 units of the Vios every month.

On the other hand, TMPC appears reluctant about venturing into the production of a so-called Philippine utility vehicle (PhUV) which is supposed to help the local autoparts industry.

Pantaleon explained that TMPC would still have to study the feasibility of the proposed PhUV.

If the proposed vehicle would be similar to the old Tamaraw model of TMPC, Pantaleon said, TMPC no longer has the proper tooling for such a model.

"We have already discarded are old tooling for the Tamaraw," Pantaleon revealed.

If it would be a new model, Pantaleon said, TMPC would have to study the financial viability of such a model.

He pointed out that the cost of its Innova line was P1 billion and as such, TMPC would have to assess the financial viability of a new production line for a PhUV.

Mitsubishi Motors Corp., for its part, would also have to study the matter although it expressed its continuing desire to participate in a so-called "people’s car" program.