Mitsubishi Motors Philippines Corp. (MMPC) said it will continue supporting the local automotive industry despite President Ferdinand Marcos, Jr.’s veto of the Comprehensive Automotive Resurgence Strategy (CARS) program funding in the 2026 national budget.

In a statement over the weekend, MMPC said it respects the President’s decision for its fiscal discipline and responsible governance. 

The company added that it will keep working with government agencies to ensure claims are processed efficiently and that policies remain predictable and transparent.

“For 60 years, MMPC has invested to strengthen local manufacturing, expand production capacity, and increase the localization of automotive parts,” the company said. 

“We remain committed to the long-term competitiveness of the Philippine automotive sector—supporting local manufacturing, protecting jobs, and contributing to sustainable economic growth.”

The CARS Program, managed by the Board of Investments (BOI), was designed to provide performance-based incentives to companies producing at least 200,000 units of enrolled vehicle models. 

The BOI said early this week that it intends to release the remaining P3.99 billion in incentives for the CARS program within the year, completing the government’s P5.43-billion commitment, of which P1.44 billion has been released so far.

To further support the industry, the Department of Trade and Industry also proposed a follow-up program called RACE to support additional vehicle models, but its P250-million allocation was also vetoed. 

Overall, the President trimmed P92.5 billion in unprogrammed spending, citing the need to prioritize national interests and maintain fiscal discipline.

Despite the budget cuts, MMPC reiterated its commitment to local manufacturing, job protection, and the long-term growth of the local automotive sector.