Toyota's vehicle exports from Philippines rise 20% y/y in 2012
Attributed to an increase in volume requirements in US, Europe, Japan, and ASEAN markets
Toyota's vehicle shipments from the Philippines increased 20% year-on-year (y/y) during 2012 amid higher overseas demand, reports the Philippine Star. Toyota Motor Philippines' vice-president for corporate affairs, Rommel Gutierrez, revealed that Toyota Group's export sales rose to USD963 million last year, from USD802 million in 2011. Gutierrez attributed the rise to an "increase in volume requirements in the US, Europe, Japan, and ASEAN [Association of Southeast Asian Nations] markets". The Toyota Group includes subsidiary Toyota Autoparts Philippines (TAP) and other domestic makers of vehicle parts shipped to the automaker's assembly plants in other parts of the world. Gutierrez said export sales of TAP alone reached USD243 million last year, also higher than the figure for 2011, at USD195 million.
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