Confidence in government support for the Comprehensive Automotive Resurgence Strategy (CARS) program strengthened after assurances that funding remains available despite the veto of the proposed P4.32-billion allocation under the 2026 General Appropriations Act.

In a joint statement Monday, the Department of Budget and Management, Department of Finance, and Department of Trade and Industry clarified that CARS funding is still accessible.

The Chamber of Automotive Manufacturers of the Philippines Inc. 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.

The group also expressed support for the upcoming Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) program and pledged continued collaboration with government and industry partners.

Toyota Motor Philippines Corp. 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.