‘CARS incentives to be funded from DPWH budget savings’MANILA, Philippines — The government yesterday assured investors it would settle incentives under the Comprehensive Automotive Resurgence Strategy (CARS) Program with savings from the Department of Public Works and Highways’ (DPWH) budget last year as the funding source. Earlier this month, President Marcos vetoed the P4.32-billion allocation for the CARS program under this year’s budget. The CARS program was launched in 2015 to encourage investments in local vehicle manufacturing by providing incentives. For its part, TMP welcomed the Philippine government’s clarification on its fiscal means and commitment to honor its obligations under the CARS program. It also said it remains committed to working with the government in revitalizing the Philippine automotive industry.

Source: Philippine Star January 19, 2026 17:31 UTC