Toyota auto parts exports drop 2%

MANILA, Philippines - Exports of auto parts of the Toyota Group from the Philippines declined two percent in the first semester from a year ago as the carmaker moved to phase out the old Vios and Corolla vehicle models.

Toyota Motor Philippines Corp. (TMPC) vice president for corporate affairs Rommel Gutierrez said in an email to reporters yesterday that shipments of the Toyota Group reached $480 million as of end-June, down slightly from the $490 million in the same period last year.

He said exports fell slightly as Toyota’s plants already ran out of the Vios and Corolla models.

“(The Vios and Corolla models) ran out because of the introduction of the full model change of both models,” he said.

The Toyota Group includes Toyota Autoparts Philippines, Inc. (TAP) and other domestic makers of vehicle parts exported to Toyota’s assembly plants in other parts of the world.

The TAP’s plant is located in Santa Rosa in Laguna.

The TAP’s products are the G-Type manual transmission, R-Type manual transmission and constant velocity joint.

The TAP exports 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.

The TMPC assembles the Vios and Innova models.

Gutierrez said that while shipments of the Toyota Group were slightly lower in the January to June period compared to the previous year’s, exports are seen to recover in the second semester.

“Exports projected to rebound in second half due to full model change of these two models (Vios and Corolla),” he said.

TMPC recently launched the Vios in the Philippine market.

The new Corolla is not being sold here but is available in other countries.

For the whole year, Gutierrez said the Toyota Group’s exports are expected to reach $1 billion.

Last year, export sales of the Toyota Group grew by a fifth to $963 million from $802 million in 2011.

Higher volume requirements in the US, Europe, Japan and countries in the Southeast Asian region supported the improved export sales performance last year.