Tag: RACE Program
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Philippine Auto Sector Kicks Off Year with Robust 10% Sales Surge, Aims for Half a Million Units by 2025
MANILA – The Philippine automotive industry has begun the year on a high note, with a reported 10.4% increase in sales, according to a joint statement from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA). The groups disclosed that January saw sales of 37,604 vehicles, up from…
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Philippine Government to Allocate PHP9 Billion for Car Manufacturers Under New RACE Program
The Philippine government is set to launch the Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) program, with a budget of PHP9 billion aimed at supporting participating car manufacturers (PCM). The initiative will be rolled out via a Joint Administrative Order (JAO), as announced by the Department of Trade and Industry (DTI). The RACE program…
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