Manila: Confidence in government support heightened after assurances on funding for the Comprehensive Automotive Resurgence Strategy (CARS) program. This comes after the Department of Budget and Management (DBM), Department of Finance (DOF), and Department of Trade and Industry (DTI), in a joint statement on Monday, clarified that funding remains available despite the veto of the proposed PHP4.32-billion allocation for CARS under the 2026 General Appropriations Act.

According to Philippines News Agency, the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) welcomed the clarification, thanking the government for "its prompt action to resolve the issue on CARS incentive funding." "This gives renewed confidence in our industrial policy and puts the automotive sector back on track for long-term investment planning," CAMPI said in a statement. The group also expressed support for the upcoming Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) program and vowed to continue working with the government and industry partners.

Toyota Motor Philippines Corp. (TMP) likewise welcomed the announcement, saying it reassured investors and stakeholders and reinforced confidence in the Philippines as a sustainable automotive manufacturing base. "We remain committed to working closely with the government in revitalizing the Philippine automotive industry as a driver of nation-building," TMP said in another statement.