2 days CARS firms cannot meet volume requirement MB |Biz
Participants to the tax  incentive-driven Comprehensive Automotive Resurgence Strategy (CARS) Program have categorically told the government they cannot meet the agreed volume production requirement over the specified 6-year period. Rommel T. Gutierrez, vice-president of Toyota Motor Philippines (TMP), said during the launch of the New Fortuner they have conveyed their situation to Trade and Industry Secretary Ramon M. Lopez during their first meeting via Zoom. “Initially, we have understanding that CARS terms and conditions need to be revised/reviewed given the situation while there are no specific actions and solutions yet, but we already agreed that volume requirement cannot be ... more