Toyota Group says auto parts exports down 13% in first quarter 

Automotive parts shipments by the Toyota Group from the Philippines dropped 13 percent during the first quarter from a year earlier, reflecting lower demand from other countries.

 

The value of exports declined to $220 million, Rommel Gutierrez, Toyota Motor Philippines Corp. vice president for Corporate Affairs said in a text message to reporters Thursday, citing “... reduced order from Japan, US and ASEAN [Association of Southeast Asian Nations].”

 

Toyota Group is made up of Toyota Autoparts Philippines Inc. (TAP) and other domestic makers of vehicle parts used in Toyota assembly plants in Thailand, Indonesia, India, South Africa, Malaysia, Vietnam, Taiwan, Japan, Pakistan, and Venezuela.

 

TAP makes G-Type manual transmission, R-Type manual transmission and constant velocity joint in Sta. Rosa, Laguna.

 

The company is looking at total shipments to reach $1 billion for 2014, compared with $940 million in 2013 and $965 million in 2012. – VS, GMA News