Manila: Department of Trade and Industry (DTI) Secretary Ma. Cristina Roque on Tuesday expressed optimism that the proposed Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) program will be approved and funded this year. In an interview, Roque mentioned that discussions on the program, which is a modified version of the Comprehensive Automotive Resurgence Strategy (CARS), are ongoing.

According to Philippines News Agency, Roque stated, "We're hoping for that, definitely," referring to the possibility of discussions being concluded this year. However, she added, "But I can't really say when. We need to finish the discussions first." Both the RACE and CARS programs aim to incentivize investors in the automotive industry willing to support the revitalization of domestic vehicle and vehicle part manufacturing.

Of the PHP5.43 billion allocated for the CARS program, about PHP1.44 billion has been released as of 2025. The PHP4.23 billion set for this year, initially vetoed due to government measures against unappropriated allocations, will now be sourced from the budget of the Board of Investments (BOI).

Meanwhile, approximately PHP9 billion is being considered for the RACE program. This budget will be disbursed to participating car manufacturers that will locally produce around 100,000 units of three specific models of four-wheeled internal combustion engine (ICE) vehicles, a volume lower than the 200,000 units set for the CARS program. The initial target is for each RACE program participant to receive fiscal support not exceeding PHP3 billion each or 40 percent of capital expenditure.

Roque further noted that part of the ongoing discussion involves determining the source of funds, as no allocation has been made for the RACE program in this year's national budget.