Toyota exports surpassed pre-pandemic levels
27 April 2022
In 2021, export sales for TLI, a wholly owned subsidiary of Toyota Motor Philippines Corp., surpassed the levels they had reached prior to the pandemic. This was due to the fact that operations were allowed to continue despite the epidemic.
According to the data provided by TMP, TLI’s sales in 2018 totaled $175.16 million. This figure represents a 43 percent increase from the $122.307 million in sales recorded in 2020 and a 29 percent increase over the $135.688 million in pre-pandemic sales recorded in 2019.
According to TMP, “TLI owes a significant portion of its success to the government’s strategy, which enabled logistics service providers and export-oriented firms to continue operating without interruption even during the pandemic.”
The recovery of markets around the world was mirrored in TLI’s financial results as well. The most important markets for the exports were located in Thailand, Pakistan, Brazil, South Africa, and Indonesia, respectively.
The previous year, Toyota exports accounted for 32% of the total exports of automobile parts and components from the Philippines.
TLI is in charge of Toyota exports original equipment manufacturer (OEM) parts, spare parts, and accessories sourced from a variety of locations. TLI is a registered ecozone logistics service firm with the Philippine Economic Zone Authority in Sta. Rosa, Laguna.
TLI is a provider of storage and logistics services that caters to Toyota affiliates located in a variety of countries around the world.
At this time, it exports to more than 30 countries spread out across five continents.
TMP asserted that TLI had been recognized as a Top 3 Taxpayer by the Revenue District Office No. 57 of the Bureau of Internal Revenue in the category of non-individual taxpayers.
Withholding taxes totaling $1.25 million were paid to the federal government by TLI on behalf of the federal government for the fiscal year 2021.
According to the TMP, the amount is one of the largest ones amassed by the RDO in the entirety of Cabuyao, Sta. Maria. In Laguna, you’ll find Rosa, Bian, and San Pedro.
*An earlier version of this story stated that Toyota Motor Philippines Logistics Inc. sold $175,164 in 2018, $122,307 in 2019, and $135,688 in 2019, when it should have stated that the company sold $175,164 million in 2018, $122.307 million in 2019, and $135,688 million in 2019. We deeply apologize for the oversight.
