Toyota Motor Philippines Corporation is a subsidiary of Toyota Motor Corporation, 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 Motor Corporation, Mitsui & Company Limited and GT Capital Holdings, Inc.. TMPC is the largest automotive company in the country, with the widest vehicle line-up of 21 models and a sales distribution and service networkcomposed of 63 dealerships nationwide. Its main production facility, the 82-hectare Toyota Special Economic Zone, 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.
Toyota history in the Philippines
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. 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 in August 3, 1988. TMPC was incorporated as a joint-venture among Metrobank, Toyota Motor Corporation and Mitsui & Co., Ltd. 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. In April 1997, TMPC opened its Sta. Rosa Assembly Plant complementing the operations at the Bicutan Assembly Plant. In 2003, TMPC's Sta. Rosa Industrial Complex is certified as a economic zone by the Philippine Economic Zone Authority. The Bicutan Assembly Plant was closed in 2005 and all production was moved to Santa Rosa, Laguna.
