President Ferdinand R. Marcos Jr. approved a five-year extension of the Comprehensive Automotive Resurgence Strategy (CARS) program or up to 2028, following the recommendation by the Private Sector Advisory Council (PSAC), with the goal of expanding the Philippine automotive industry. 
 At the same time, PSAC recommended to the President during their meeting the creation of a Motorcycle Motorcycle Micro Business Program to further support micro small and medium enterprises (MSMEs). 
 Both moves are aimed at expediting jobs creation in the country, PSAC said. On CARS, it could be recalled that the program through Executive Order No. 182 in 2015 gave participating automakers six years to reach the minimum volume target sales of 200,000 domestically produced automobiles for each of the enrolled car types in order to qualify for tax incentives. 
 The pandemic, however, made it difficult for the CARS program participants — Mitsubishi Motors Philippines Corp. (MMPC) and Toyota Motor Philippines Corp. (TMPC)— to continue production during the crisis period and comply with the 200,000 unit volume requirements for each participant. MMPC, which is producing Mirage and G4 models, broke ground for its facility in June 2016, and full assembly in 2018 at its Sta. Rosa, Laguna plant. Its investment reached P4.3 billion. TMPC, which assembles the Vios model, also started production in 2018 with P5.38 billion investments. This means, both firms have only until next year to fully comply with the production volume requirement. In December 2022, the Board of Investments Managing Head Ceferino S. Rodolfo said that both TMPC and MMPC have produced a total of 207,165 units of their respective enrolled models under the CARS program or just half of the 400,000-unit volume required under the six-year program due to disruptions caused by the pandemic. Of the total, TMPC was able to produce 134,242 units while MMPC contributed 72,923 units. This prompted the Board of Investments (BOI), program administrator, and the two participants to work on the extension of the program. In recommending for the program’s extension, PSAC said that CARS has demonstrated its effectiveness and value as a high-end manufacturing operation which has greatly helped in the creation of jobs, transfer technology, and boost global competitiveness by supporting domestic auto manufacturing and stimulating investment. “The extension of CARS for 5 years  will continue to provide incentives and support for manufacturers that meet specific requirements in terms of investment, production, and technology development. CARS will also continue to provide significant employment opportunities as well as the foundation for the future development of the economy,” the statement added. 
 On the Motorcycle program, PSAC said this will further support micro small and medium enterprises (MSMEs). 
 The program is aimed at creating more employment  opportunities and accelerate the development of nanoprenuers, which are smaller than micro entrepreneurs as these include 
 The Department of Transportation  (DOTr) is still reviewing the proposed executive order that will mandate the creation of this separate program. PSAC said the motorcycle peogram has the potential to create over two million jobs for habal-habal riders and provide access to transform their livelihoods,  becoming platform self-entrepreneurs. DOTr Secretary Jaime Bautista is on of the ongoing review of the draft EO for the Motorcycle Micro Business Program. The meeting with PSAC was also attended by Vice President and Education Secretary Sara Duterte, Executive Secretary Lucas Bersamin, DOLE Secretary Bienvenido Laguesma, DTI Secretary Alfredo Pascual, NEDA Secretary Arsenio Balisacan, and other esteemed Cabinet Members. 
 PSAC lead convenor and Aboitiz Group president and CEO Sabin M. Aboitiz and the Council’s jobs sector lead, RFM Corp. CEO Jose Maria A. Concepcion led the private sector's representatives. SM Investments Corp. Vice-Chairperson Tessie Sy-Coson, Magsaysay Group CEO Doris Magsaysay-Ho, Alliance Global Group CEO Kevin Andrew L. Tan, Ayala Corp. Independent Director Rizalina G. Mantaring, AC Education President and CEO Alfredo Ayala, and  PSAC Secretariat's Ginggay Hontiveros and DJ Sta Ana were also present at the meeting with Pres. Marcos. 
 PSAC has been established strategically by President Ferdinand Bongbong Marcos Jr to create and strengthen innovative new synergies between the private and public sectors. PSAC is composed of business leaders and experts across six main sectoral groups — Agriculture, Digital Infrastructure, Jobs, Healthcare, Build-Build-Build, and Tourism. 
 The Council will help the government deliver on its commitment to transform the Philippine economy by implementing robust infrastructure programs, creating more jobs and attracting more investors, digitizing processes, improving agricultural productivity through the recalibration of micro, small and medium enterprises (MSMEs), jumpstart Philippine Tourism and ensuring an equitable, sustainable, and inclusive business landscape for Filipinos. 
 PSAC said it will continuously recommend modern policy development to the government and report regularly to the President to provide feedback and adjust recommendations as necessary based on what is happening on the ground.