{"id":330535,"date":"2024-11-21T11:08:11","date_gmt":"2024-11-21T03:08:11","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330535"},"modified":"2024-11-21T11:08:16","modified_gmt":"2024-11-21T03:08:16","slug":"trade-the-news-gtcaps-toyota-phl-says-auto-parts-exports-may-rise-next-year","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-gtcaps-toyota-phl-says-auto-parts-exports-may-rise-next-year\/","title":{"rendered":"Trade the News: GTCAP’s Toyota PHL says auto parts exports may rise next year"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>GT Capital Holdings<\/td><\/tr>
Stock Code<\/strong><\/td>GTCAP<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 934.67<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

TOYOTA Motor Philippines Corp. (TMP), a subsidiary of GT Capital Holdings (GTCAP), is projecting a potential 5% growth in auto parts exports next year as demand recovers in other countries, a company official said.<\/p>\n\n\n\n

\u201cIf next year it will increase, more or less\u2026 it will be 5%,\u201d TMP First Vice-President for Purchasing Richard B. Valdez told reporters on Tuesday.<\/p>\n\n\n\n

Exports are so far flat this year, he noted. \u201cEvery year, at least we would like to increase, but that will still depend on the sales of other countries.\u201d<\/p>\n\n\n\n

In 2023, the Toyota group accounted for 30% or $1.26 billion of the total Philippine auto parts exports. These represented $665 million in export revenues.<\/p>\n\n\n\n

However, the car manufacturer\u2019s share in the auto parts exports that year was lower than 33% a year prior.<\/p>\n\n\n\n

\u201cIt\u2019s a little bit down because since we are exporting, these (represent) the sales of other countries like Thailand and other ASEAN (Association of Southeast Asian Nations) markets,\u201d Mr. Valdez said.<\/p>\n\n\n\n

There are lower sales in other markets due to issues with financing as interest rates remain elevated, he noted.<\/p>\n\n\n\n

Data from the ASEAN Automotive Federation (AAF) showed that motor vehicle sales in Thailand declined 9% to 775,780 units last year.<\/p>\n\n\n\n

Meanwhile, Thailand\u2019s motor vehicle sales from January to September dropped 23.5% to 438,303 units.<\/p>\n\n\n\n

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said it is possible for the country\u2019s total auto parts exports to increase next year.<\/p>\n\n\n\n

\u201cThis is consistent with the fact that the Philippines is one of the fastest growing in vehicle sales and production in ASEAN in recent years,\u201d he said.<\/p>\n\n\n\n

AAF statistics showed that Philippine motor vehicle production grew 18.3% in the January-to-September period to 97,139 units. It was the second-fastest in the region.<\/p>\n\n\n\n

Meanwhile, a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. and Truck Manufacturers Association showed that auto sales grew 8.9% to 384,310 units as of October.<\/p>\n\n\n\n

Mr. Ricafort added that since Toyota is one of the world\u2019s biggest automakers, it is possible for the company to further diversify its global supply chains.<\/p>\n\n\n\n

\u201cIt will be prudent for them to diversify the auto parts exported from the Philippines to the rest of [its] production facilities worldwide,\u201d he said.<\/p>\n\n\n\n

In 2016, TMP established Toyota Motor Philippines Logistics, Inc. (TLI) to strengthen its indirect exports of OEM (original equipment manufacturer) and aftermarket parts and accessories to Toyota\u2019s global network.<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-330535","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330535","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=330535"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330535\/revisions"}],"predecessor-version":[{"id":330537,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330535\/revisions\/330537"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}