George Ty to open Toyota dealerships in Subic
GT Capital Holdings Inc. of Bilyonaryo George Ty is opening Toyota car dealerships within the Subic Bay Metropolitan Authority.
Through newly-formed unit GT Capital Auto Dealership Holdings Inc., the Ty-owned conglomerate partnered with JBT Global Holdings Inc. of businessman Jose B. Tan to set up Toyota Subic Inc. (TSI).
GTCAD will own 55 percent of TSI while the balance of 45 percent will be held by JBT Global.
TSI will operate future Toyota dealerships of the joint venture within the SBMA, GT Capital said in a statement.
JBT Global is a strategic partner of Toyota Motor Philippines Corp. (a subsidiary of GT Capital) in Toyota San Fernando, which operates Toyota dealerships in Plaridel, Bulacan and Hacienda Luisita, Tarlac City.
Toyota remained the country’s top-selling automaker for the first half of the year, accounting for 43.4 percent of the market with total sales of 72,642 units.