CARS program

Mitsubishi to export cars produced in Philippines by next year

Mitsubishi Motors Philippines Corp. (MMPC) will start exporting locally produced vehicles to different parts of Southeast Asia next year, the Department of Trade and Industry (DTI) said Thursday. DTI said in a statement Mitsubishi will be exporting…

Toyota exec disappointed at higher excise taxes for locally produced cars

Market leader Toyota Motor Philippines Corp. (TMP) is disappointed that even locally produced cars would be slapped with higher excise taxes, making the incentive under a flagship manufacturing program “meaningless.” TMP President Satoru Suzuki told reporters on…

Toyota invests P5.2B in CARS program

Market leader Toyota Motor Philippines Corp. (TMP) has invested P5.2 billion so far in its commitment to the government’s CARS program, noting that such investment will help drive the goal of “advancing Philippine manufacturing.” In a statement…

Mitsubishi PH presents its first Filipino-made Mirage Hatchback

Mitsubishi Motors Philippines Corporation (MMPC) announced last Thursday the mass production of its Mitsubishi Mirage hatchback model in its Sta. Rosa plant. MMPC unveiled the first Mitsubishi Mirage hatchback that came off the assembly line in a…

Mitsubishi output increased by 46% in 2016

Local production of Mitsubishi vehicles rose 46 percent in 2016, marking its highest output since 1998, the company said on Tuesday. In a statement, Mitsubishi Motors Philippines Corp. (MMPC) said it produced 22,008 units last year, up…

Lower excise tax hike eyed on cars priced P1M and below

The Department of Trade and Industry (DTI) and the Department of Finance (DOF) have agreed to lower the proposed excise tax increase on cars priced below P1 million. Trade and Industry Secretary Ramon M. Lopez told reporters…

Hyundai may soon join gov’t auto program

Hyundai Asia Resources Inc. is reviewing the possibility of joining the government’s automobile resurgence program, said Trade Secretary Ramon M. Lopez. Lopez said Tuesday he met with officials of HARI last Feb. 13 to discuss the firm’s…

Mitsubishi taps 25 local suppliers for CARS project

Mitsubishi Motors Philippines Corp. has tapped 25 local car parts makers as suppliers for its planned assembly of the Mirage and Mirage G4 under the government’s Comprehensive Automotive Resurgence Strategy (CARS) program. The suppliers are expected to…

An MVP investment in the auto business

  The Philippine auto industry is set to continue its blistering growth, with sales forecast to rise 25 to 30 percent in 2016 from the previous year. With that, business groups are finding the sector an attractive…

Tough CARS rules to stay, says BOI

THE BOARD of Investments said it would not relax the stiff  requirements that the government had set for the Comprehensive Automotive Resurgence Strategy (CARS) program to accommodate a third player. BOI managing head Ceferino S. Rodolfo said…