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Published April 5, 2021, 7:00 AM
CARS (Comprehensive Automotive Resurgence Program Participants) Program participants Mitsubishi Motors Philippines Corp. (MMPC) and Toyota Motor Philippines (TMP) are still behind in the production volume commitment of their enrolled models.
The Board of Investments (BOI), which administers the CARS Program, reported that as of December 2020, MMPC has produced a total of 143,000 units of Mirage and Mirage G4 while TMP has reached production volume of 128,000 units of Vios.
(Mitsubishi Motors FACEBOOK / MANILA BULLETIN)
The program, which IRR was issued on November 16, 2015, requires participants to produce 200,000 units of their enrolled models within a six-year period.
BOI Executive Director Ma. Corazon Dichosa-Halili said the CARS participants’ production data was reckoned in 2017. This means MMPC had produced 35,750 units annually while TMP had rolled out 32,000 units a year, on the average over the past four years.