Over 200K units produced under CARS program – DTIMANILA, Philippines — The two companies participating in the Comprehensive Automotive Resurgence Strategy (CARS) have already produced over 200,000 units under the program, according to an official of the Department of Trade and Industry (DTI). In contrast, MMPC, which started production in February 2018, produced a total of 72,923 units of its Mirage model. Apart from the produced units, Rodoldo shared that other achievements of the program include improved localization or the share of parts sourced locally , which is now above 40 percent for both enrolled units. TMP has been pushing for an extension of the six-year compliance period for the CARS program as early as 2020, based on previous news reports. Second, we also recognize that the CARS program participants have already complied with their investment commitments.

Source: Philippine Star December 21, 2022 16:53 UTC