Toyota Motor Philippines Corporation (TMP) is a subsidiary of Toyota, based in Santa Rosa, Laguna, Philippines, responsible for the assembly and distribution of Toyota vehicles in the Philippines since 1988. The company was established on August 3, 1988, as a joint venture between Toyota, Mitsui & Co and GT Capital.[1][2][3]
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Its main production facility, the 82-hectare Toyota Special Economic Zone (TSEZ), is located in Santa Rosa, Laguna for assembling cars. TMPC is also the provider of financial services unit, Toyota Financial Services Philippines, and Lexus Manila, Inc., the official distributor of Lexus cars.[1]
Toyota's presence in the Philippines dates back to 1962 when Delta Motor Corporation, a company established by Ricardo C. Silverio Sr., acquired the rights to assemble and distribute Toyota vehicles for the Philippine market. Delta Motor Corporation collapsed during the Philippine economic downturn in the early 1980s. Operations came to a halt in December 1983 and by March 1984, Toyota's tie-up with Delta Motor Corporation was terminated. The company was dissolved by 1988.[citation needed]
When Toyota Motor Corporation president Shoichiro Toyoda came looking for a new partner in the Philippines, he sought out Dr. George S. K. Ty, and on August 3, 1988, TMPC was incorporated as a joint-venture among Metrobank, Toyota Motor Corporation and Mitsui & Co.[citation needed]
In 1994, TMPC captured its first "Triple Crown": No.1 in Total Sales, Passenger Car Sales and Commercial Vehicle Sales. It has continued its Triple Crown run up to the present, garnering 19 consecutive Triple Crowns as of 2019.[citation needed]
In April 1997, TMPC opened its Sta. Rosa Assembly Plant complementing the operations at the Bicutan Assembly Plant (formerly, the Delta Motor Corporation assembly plant). In 2003, TMPC's Sta. Rosa Industrial Complex is certified as an economic zone by the Philippine Economic Zone Authority.[citation needed]
The Bicutan Assembly Plant was closed in 2005 and all production was moved to Santa Rosa, Laguna. The old plant became Toyota Bicutan Parañaque built fronting the Bicutan exit of Metro Manila Skyway.[citation needed]
For the 35th anniversary celebration of Toyota Motor Philippines, Toyota Chairman Akio Toyoda announced the return of the Toyota Tamaraw and its local production at the TMP Santa Rosa Plant will begin on 2024.[citation needed]
