July 08, 2013

Toyota to raise Philippine production by 18%

Toyota Motor Philippines Corp. (TMPC) is planning to hike its total production by 18% to 36,300 units of Vios and Innova this year from a year ago as it expects higher demand for vehicles. TMPC president Michinobu Sugata said the firm has made improvements in its production line to increase its capacity and be able to manufacture more vehicles.

The improvements made at the company’s plant required the investment of more than P2 B. The firm decided to raise the level of its production capability as it expects strong demand for vehicles particularly for the all-new Vios sedan, which accounts for 60% of the company’s total sales of completely knocked down units. - WealthSec