Mitsubishi Motors Philippines Corporation (MMPC) released a statement, expressing its gratitude to the Philippine government for its continued support of the automotive industry. This is after the PH government announced that it has secured funding for the Comprehensive Automotive Resurgence Strategy (CARS) program.
Mitsubishi considers the continued funding for the CARS program as a “clear commitment to the local automotive industry and reinforces confidence in the sector’s stability and long-term prospects.”
As a review, President Ferdinand Marcos Jr. vetoed funding for major industry support programs included under unprogrammed appropriations (UA). Among the items removed from the 2026 national budget is the P4.32 billion budget for the CARS program and P250 million for the Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) program.
The local automotive industry was alarmed by the said vetoed funding, which prompted the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) to voice its concern over the 2026 national budget. The CARS program promised performance-based fiscal support to vehicle manufacturers that met minimum production targets. These include Toyota Motor Philippines and Mitsubishi Motors Philippines Corporation.
To clarify the matter, the Department of Budget and Management (DBM), the Department of Trade and Industry (DTI), and the Department of Finance (DOF) issued a joint statement stating that the veto does not reflect a withdrawal of government support for the automotive industry. The three agencies said that the CARS program will continue to be funded by the government.
The DBM said that the participants of the CARS program, which includes Toyota and Mitsubishi, will be funded through the 2025 declared and verified savings of the Department of Public Works and Highways (DPWH). The statement published on the DBM’s website reads:
“Based on the Tax Payment Certificates (TPCs) already issued and validated, the government has the capacity to settle dues to participating car manufacturers, including Toyota and Mitsubishi, as well as eligible autoparts makers. These payments will be supported by available FY 2025 savings, subject to the approval of the Office of the President and compliance with all applicable fiscal and legal requirements.”
Meanwhile, below is the official statement released by MMPC:
Mitsubishi Motors Philippines Corporation (MMPC) expresses its sincere gratitude to the Philippine government for securing funding for the Comprehensive Automotive Resurgence Strategy (CARS) Program incentives. This demonstrates clear commitment to the local automotive industry and reinforces confidence in the sector’s stability and long-term prospects.
We are grateful to Finance Secretary Frederick Go for leading this initiative and to the Department of Budget and Management, Department of Finance, Department of Trade and Industry, and other government agencies for their coordination in ensuring the program’s commitments are fulfilled.
MMPC remains dedicated to delivering quality vehicles to our valued customers and stakeholders. We will continue to maintain a responsible presence in the Philippines, supporting communities, contributing to economic growth, and upholding our role in the country’s long-term development.
