Toyota Motor Philippines Corp. (TMPC) is investing P4.5 billion next year to build a new logistics hub in Luzon to accommodate more imported vehicles in anticipation of greater demand.
The hub will accommodate completely built units and will be bigger than TMPC’s logistics center in Sta. Rosa, Laguna that can hold 4,000 to 5,000 vehicles at any given time, according to outgoing TMPC president Satoru Suzuki.
“Our sales volume is growing more and more. Sooner or later, our capacity will overflow,” Suzuki was quoted as saying.
The existing logistics center in Laguna will handle locally assembled vehicles once the new hub is operational.
Suzuki said the investment will push through despite the proposal of the Philippine Metalworkers Alliance to impose safeguard duty on imported vehicles. It will also happen even as the Department of Trade and Industry is looking to slap tariffs on vehicles imported from Thailand as a retaliatory measure for the neighboring country’s non-compliance with a World Trade Organization ruling that favored the Philippines in a case involving Philippine cigarette exports.
Suzuki said that imposition of safeguard duty is “against the free trade situations,” but added that they do not believe the Philippine government will do it.
TMPC vice chairman Alfred Ty said the company is hoping for a single-digit growth in sales this year.