TOYOTA MOTOR Philippines Corp. (TMP) expects export sales to reach $1.06 billion this year, slightly below the $1.09 billion recorded in 2025, as global trade uncertainties and weaker demand weigh on the automotive industry.
“Amid softer demand and global trade uncertainties, the group continues its manufacturing and export operations in the Philippines, while seeking measures that enhance the competitiveness of local manufacturers and suppliers,” TMP said in a statement on Thursday.
The company renewed its call for stronger government support for local vehicle manufacturing, saying this would help sustain production and exports.
TMP assembles the Vios, Innova and Tamaraw at its 82-hectare Toyota Special Economic Zone in Sta. Rosa, Laguna.
Citing Philippine Economic Zone Authority Director-General Tereso O. Panga, TMP said its 13 export suppliers have generated more than P34 billion in cumulative investments and created over 45,000 direct jobs.
The economic zone also hosts five companies that employ more than 7,000 workers.
TMP said Philippine suppliers have opportunities to expand their participation in the automotive value chain.
The company reiterated its readiness to join the government’s Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) program, which offers a P9-billion fiscal incentive package to support local production of internal combustion engine vehicles. The government has yet to issue the program’s implementing rules.
TMP also urged the government to fulfill commitments under the Comprehensive Automotive Resurgence Strategy (CARS) program to facilitate the transition to successor manufacturing initiatives such as RACE.
Trade Secretary Maria Cristina A. Roque earlier said the government has yet to settle its P5.16-billion obligation to participants in the CARS program, including TMP.
The CARS program, which preceded RACE, also provided incentives for local vehicle production.
TMP remained the country’s top-selling automotive brand as of end-September despite an 8.1% decline in sales during the period. — B.M.D. Cruz