WELLNESS IN BUSINESS: Toyota Motors will buy more local parts as it shifts to local stamping for key model, Vios. TMP, the largest automotive assembler in the country, sees sales growing by 25 per cent this year to 70,000 units. According to Rommel Gutierrez, vice president for corporate affairs, the company will shift back to local stamping and pressing which used to be done Indonesia and Thailand. Gutierrez said TMP, prior to the 1997 financial crisis, was doing the stamping and pressing not only for local assembly but for export to the two countries. The crisis forced TMP to scale down the stamping/pressing to about 15 percent of capacity and rely on imports. “We will focus on the bulky parts. This will save us on logistics costs since we do not have to import them,” Gutierrez said.

Malaya Business News Online - Philippine Business News | Online News Philippines - Toyota to use more local parts to make low-end Vios: "The stamping and pressing localization as well as the sourcing of more Philippine-made parts would enable TMP to double the local content of the Vios in 2014 from the present 20 percent to 40 percent. Gutierrez said the plan is to adopt the same for the Innova, the other model  assembled locally, but no schedule has been set.TMP president Michinobu Sugata said the Sta. Rosa plant hopers to increase by 18 percent its production capacity to 36,300 units of Vios and Innova by the end of 2013,    by rendering overtime and holiday work.  The new Vios alone will account for 14,594 units to be built from July to December." CLICK LINK TO READ MORE

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