Manila Bulletin

CARS rms can­not meet vol­ume re­quire­ment

- By BERNIE CAHILES-MAGKILAT Business · Cars · Consumer Goods · Automotive Industry · Industries · Toyota Motor Corporation · Philippines · Toyota · Zoom Video Communications · Mitsubishi Motors Philippines · Mitsubishi Motors · Mitsubishi Group · Indonesia · Toyota Motor Philippines · Toyota Fortuner · Lambogini

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 speci ed 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 rst meet­ing via Zoom.

“Ini­tially, we have un­der­stand­ing that CARS terms and con­di­tions need to be re­vised/ re­viewed given the sit­u­a­tion while there are no speci c ac­tions and so­lu­tions yet, but we al­ready agreed that vol­ume re­quire­ment can­not be met and gov­ern­ment un­der­stands that,” said Gu­tier­rez.

CARS Pro­gram par­tic­i­pants are also ex­pected to hold more meet­ings to thresh out the vol­ume re­quire­ment is­sue. Aside from TMP, the other CARS pro­gram par­tic­i­pant is Mit­subishi Mo­tors Philip­pines Corp., which en­rolled its Mi­rage model in the pro­gram. TMP’s en­rolled model is Vios.

The CARS Pro­gram is a man­u­fac­tur­ing scheme that in­cen­tivizes par­tic­i­pat­ing car com­pa­nies to pro­duce 200,000 units within six years.

For the new For­tuner, TMP Vice-Pres­i­dent Jose Maria Atienza said they ex­pect to sell be­tween 1,200 to 1,500 units a month for the rest of the year given the new safety fea­tures and in­te­rior and ex­te­rior im­prove­ments of the best sell­ing SUV in the coun­try.

For­tuner has sold over 220,000 units in the coun­try in the past 15 years and has dom­i­nated the mid-size SUV seg­ment with over 30 per­cent mar­ket share.

The new For­tuner, which is im­ported CBU from In­done­sia, has an SRP price range of R1.633 mil­lion to R2.424 mil­lion.

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