Make PH production hub, TMP told
Credit to Author: Faye Almazan| Date: Wed, 19 Feb 2020 17:12:53 +0000
The Department of Trade and Industry (DTI) encouraged Toyota Motors Philippines (TMP) to make the Philippines the production hub of the Vios, the automotive manufacturer’s most popular car model.
During TMP’s turnover ceremony for its new president on Monday night, Trade Secretary Ramon Lopez called on the carmaker to build more local parts to help further develop the vehicle manufacturing industry in the country. TMP formally welcomed its new president Atsuhiro Okamoto during the occasion.
“We call on Toyota Motor Philippines to again expand local operations, increase local sourcing and build a higher domestic content for your operations in the country as we would like to make the Philippines your regional production hub for certain models, like the Vios,” Lopez said during his keynote speech.
He expressed hope the Vios would be manufactured by TMP not only for the Philippine market, but also for the export market.
TMP is actively involved in the Comprehensive Automotive Resurgence Strategy (CARS) Program of the DTI, having recently committed a P5.42-billion investment related to the program.
TMP Chairman Alfred Ty said that they continue to export close to $1 billion of Philippine-made auto parts annually.
Lopez also told reporters that he is encouraging localization of sources, especially now that a number of factories in China have shutdown from the spread of the coronavirus disease 2019.
For his part, TMP First Vice President Rommel Gutierrez assured that the company is not affected by factories closing in China.
“We have enough stocks. We are still evaluating [but] no impact, as of now,” he said.
New TMP president
TMP also announced the appointment of a new president in Okamoto who is succeeding Satoru Suzuki who has led TMP the past four years.
The incoming president began his career with Toyota Motor Corp. in 1992. Okamoto also served as the executive vice president of Toyota Motor Asia Pacific.
“Mr. Okamoto brings with him a very youthful and forward looking leadership that, I believe, is most needed at this time of motorization for the Philippines,” Ty said.
Okamoto said TMP will continue to provide quality vehicles for the Philippine market.
“As TMP’s new president, I would like to reiterate to all TMP team members, dealers and suppliers alike, the importance of dedicating our work to contribute to society. We will continuously do so by providing ever better cars and services to enhance the quality of life of Filipinos,” Okamoto said.
For his part, Suzuki led TMP in achieving some of its milestones in the past four years. This includes TMP attaining a 39.5-percent market share and bagging its 18th consecutive Triple Crown last year.
The Philippines also became the third largest market of Toyota in Southeast Asia—following Indonesia and Thailand—and TMP soared to the ninth in the Toyota Global Ranking during Suzuki’s term.
Suzuki capped off his term with TMP winning the Philippine Quality Award for Performance Excellence from the government.