Auto parts makers seek 2nd chance for CARS, RACE funds

Vehicle parts manufacturers are seeking a dialogue with lawmakers after President Marcos vetoed funding for two major incentive programs in the 2026 budget. These perks were intended to revitalize the local automotive industry. In particular, the veto removed unprogrammed funds for the Comprehensive Automotive Resurgence Strategy (Cars) and the Revitalizing the Automotive Industry for Competitiveness