Mitsubishi Motors PH expresses ‘sincere gratitude’ for CARS incentive funding

MANILA: Mitsubishi Motors Philippines Corporation (MMPC) expressed its sincere gratitude to the Philippine government for securing funding for the Comprehensive Automotive Resurgence Strategy (CARS) Program incentive.

Per the local subsidiary of the Japanese car manufacturer, the said move demonstrates a 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 (DBM), Department of Finance (DOF), and the Department of Trade and Industry (DTI), and other government agencies for their coordination in ensuring the program’s commitments are fulfilled,” it wrote in a press release.

In addition, MMPC said that the company “remains dedicated to delivering quality vehicles” to its valued customers and stakeholders and that it “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.”

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Vetoed funding

To recall, Zigwheels Philippines previously reported that the Chamber of Automotive Manufacturers of the Philippines Incorporated aired its concerns about the President vetoing the allocation for the aforementioned program.

In that report, it was noted that Senate Finance Committee Chair Sherwin Gatchalian mentioned that MMPC was among the brands that were promised to be paid through tax incentives, which have not been given for the past four to five years. 

Likewise, the local electric vehicle community also expressed a similar sentiment, and even noted that the push toward the widespread use of electric cars in the country “will stall without a strong domestic automotive manufacturing base.”

Not too long ago, the DBM, DOF, and DTI released a joint statement saying that funding has been secured, which will be pulled from the savings of the Department of Public Works and Highways (DPWH) last year.

Based on the Tax Payment Certificates (TPC) already issued and validated, the state has the capacity to settle dues to car manufacturers like MMPC.

“The government’s position is clear: we will not abandon the auto industry. Obligations supported by issued and validated TPCs will be paid in a legal, orderly, and responsible manner, consistent with our fiscal space and established budgetary rules,” DBM Secretary Rolly Toledo was quoted as saying.

Mitsubishi cars made in PH

MMPC currently has a plant located in Santa Rosa, Laguna, where models like the Mirage G4, Mirage Hatchback, and L300 are produced.

Also read:

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Mitsubishi Motors PH refreshes Montero Sport

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