Toyota Motor Philippines trims 2011 forecast anew

As Thai floods affect local production
by Anna Barbara L. Lorenzo | Dec 13, 2011
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The Philippine unit of Japan's Toyota Motor Corporation is expecting sales to  be slightly lower than that recorded in 2010 due to the effect of the flooding in Thailand to its local production .

Toyota Motor Philippines (TMP) president Michinobu Sugata said the company has been revising its production plan on a weekly basis after the disaster. Toyota's plant in Santa Rosa, Laguna, started a single-shift production on October 24 and double shifts resumed on November 28.

Prior to the calamities that affected car production worldwide, Toyota Motor Philippines expected a rosy 2011 with sales reaching 60,000 units over a 12-month period. This figure is 5.5 percent higher than 2010 sales, which stood at 56,855.

The forecast was trimmed, however, after the company assessed the impact of the earthquake and tsunami that hit Japan on March 11.

"After Japan, it's 57,000, but because of the flood in Thailand, we will probably end the year with 53,000 to 54,000," Sugata said.

The best-selling models in the Philippine market, the Toyota Vios and the Toyota Innova, are assembled in Laguna. Reports say as much as 30 percent of the parts and components of both vehicles are sourced from Thailand.

While Toyota's 2011 performance may be lower than its 2010 figures, the company's sales will still be better than 2009's 46,193 units. Toyota sold 50,610 units from January to November.

On December 9, Toyota Motor Corporation said it expects global sales for the fiscal year ending March 31, 2012, to reach only 7.38 million. The forecast, which is down from 7.60 million, was reduced due to Thai floods. 

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