Last week, the Philippine automotive sector welcomed 2026 with what seemed to be a big challenge ahead – President Ferdinand “Bongbong” Marcos, Jr. vetoed the PHP 4.32-billion Comprehensive Automotive Resurgence Strategy (CARS) allocation under this year's national budget.

With the program aimed to encourage more investments in automotive parts production locally to boost the industry’s competitiveness, Mitsubishi Motors Philippines Corporation (MMPC), one of the participants of the CARS program, has given its official stand on the matter at hand.

MMPC said it respects PBBM’s decision about the unprogrammed appropriations, recognizing “the decision’s role in safeguarding fiscal discipline and promoting responsible governance.” However, the automaker has also stressed the importance of having “clear, predictable, and transparent processes that support the integrity of government programs and reinforce investor confidence.”

Here’s the complete statement:

“For 60 years, Mitsubishi Motors Philippines Corporation has been a steadfast partner in national development. Throughout its six decades of operations, MMPC has made substantial investments to strengthen local manufacturing, expand production capacity, and increase the localization of automotive parts—aligned with the objectives of the CARS Program (Comprehensive Automotive Resurgence Strategy) to boost domestic production and enhance industry competitiveness.

Mitsubishi Motors Philippines Corporation respects President Ferdinand Marcos, Jr.’s recent decision to veto unprogrammed appropriations in the 2026 National Budget, including the allocation intended for the CARS Program. We recognize the decision’s role in safeguarding fiscal discipline and promoting responsible governance.

MMPC remains committed to working closely with government agencies to ensure the timely processing and release of the claims and to advocate for clear, predictable, and transparent processes that support the integrity of government programs and reinforce investor confidence.

Mitsubishi Motors Philippines Corporation remains dedicated to the long-term competitiveness and industrialization of the Philippine automotive sector— supporting local manufacturing, protecting jobs, and contributing to sustainable economic growth.”