Honda joins list, of automakers raising prices

MANILA, Philippines — Honda Cars Philippines Inc. (HCPI) is collecting deposits for select vehicle models affected by the provisional safeguard measure.

As the Department of Trade and Industry (DTI) slapped provisional safeguard duties in the form of cash bond amounting to P70,000 for every passenger car brought in from overseas, and P110,000 for every imported light commercial vehicle, HCPI said it would comply with the directive and make it easier for customers buying the affected models by requiring a lesser amount of cash deposit on top of the suggested retail prices.

In particular, those purchasing the City would have to make a deposit of P7,000, while a P10,000 deposit is required for those buying the Civic (1.8 E CVT).

As for the Brio 1.2 S MT and 1.2 V CVT variants, HCPI will be collecting a deposit of P40,000.

The Brio 1.2 RS CVT and 1.2 RS Black Top CVT variants would require a higher deposit of P60,000.

For the HR-V 1.8 RS Navi CVT variant, customers would need to give a P30,000 deposit.

HCPI said it would issue another advisory on other models affected by the provisional safeguard measure such as the Jazz, Mobilio, BR-V, Civic (RS), and CR-V (2.0 Gas and V Diesel).

For those who would like to purchase a Honda model without the required cash deposit,  HCPI said a limited volume of pre-safeguard duty stocks are still available at dealerships.

Earlier, automotive firms Toyota Motor Philippines Corp., Isuzu Philippines Corp., and Mitsubishi Motors Philippines Corp. announced they are collecting deposits from customers of new vehicles covered by the provisional safeguard measure.