New car industry plan ‘not enough’

The Comprehensive Automotive Resurgence Strategy (CARS) Program just approved by President Benigno Aquino 3rd may not be enough to make the Philippine vehicle industry competitive against its Southeast Asian neighbors, an industry leader said, although the plan has the full support of automotive manufacturers.

George Chua, president of the Federation of Philippine Industries (FPI), told The Manila Times on Tuesday that the CARS Program does not address issues that domestic manufacturing firms have been wrestling with, particularly uncompetitive power rates and labor costs.