Will bonds shift demand locally? On January 4, 2020, the Department of Trade and Industry announced the imposition of a safeguard duty or tariff on imported cars in response to a petition made by the Philippine Metalworkers Alliance (PMA). The provisional safeguard duty will be in the form of a...
Just a few days ago, the Department of Trade and Industry announced the imposition of a safeguard duty or tariff on imported cars in response to a petition made by the Philippine Metalworkers Alliance (PMA). The provisional safeguard duty will be in the form of a cash bond amounting to P70,000/unit...
Domestic car manufacturers and traders slammed the decision of the Philippine government to slap a punitive safeguard duty on imported completely built up (CBU) cars and light commercial vehicles (LCVs), citing short and long-term risks to the industrial sector, price hikes, deferment of expansion...
The Philippines today slapped a provisional safeguard duty against imported passenger cars and light commercial vehicles (LCVs) to protect the domestic motor vehicle manufacturing industry from the onslaught of imported vehicles, a move that will hit Thailand and Indonesia the most being the top...
Board of Investments (BOI) Managing Head Ceferino S. Rodolfo is amenable to a three-year delay in the compliance of the volume requirement by participants of the Comprehensive Automotive Resurgence Strategy (CARS) Program in consideration of the setback caused by the pandemic. Rodolfo made...
The Department of Trade and Industry (DTI) is finalizing its report on its investigation on the surge in the importation of motor vehicles into the country, indicating that government is on its way towards the imposition of safeguard measure against imported cars to protect the domestic industry...
Just this week, Pantone announced the colors of the year , being Ultimate Gray and Illuminating (yellow). It may seem like a trivial bit of information, perhaps even odd that some institute should dictate the year’s colors to be used. Yet this seemingly innocuous announcement has wide-reaching...
By BERNIE CAHILES-MAGKILAT Toyota Motor Philippines (TMP), the country’s largest car company, has acknowledged that while it continued to import vehicles to meet local demand it also said that producing vehicles locally is an even more essential part of the economic recovery efforts of the...
The Philippine Metalworkers Alliance (PMA), a union of automotive, electronics, steel and iron steel workers, has urged the government to mandate agencies to purchase locally manufactured vehicles and raise local component requirement to 100 percent from 40 percent and control entry of imported...
To benefit laid off auto workers A group of automotive workers has asked the government to reallocate a portion of the multi-billion worth of tax perks granted to participants in the tax incentive-driven Comprehensive Automotive Resurgence Strategy (CARS) Program as part of social amelioration...
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 specified 6-year period. Rommel T. Gutierrez, vice-president of Toyota Motor...
