Honda to provide lighter payment options for select models

Honda to provide lighter payment options for select models

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Honda Cars Philippines, Inc. (HCPI), Honda’s automobile business unit in the Philippines will offer a lighter and convenient way for customers in buying its models affected by the government’s implementation of the provisional safeguard duty.

Earlier this year, the Department of Trade and Industry (DTI) announced Department Administrative Order (DAO) No 20-11 in connection with the Safeguard Measures Act (Republic Act No. 8800), levied on car imports, which imposes an additional safeguard duty of PhP 70,000 and PhP 110,000 per unit for passenger cars and light commercial vehicles respectively. In relation to this, the Bureau of Customs (BOC) has started to collect the provisional safeguard duty in the form of cash bond starting February 1, 2021 for imported vehicles.

Honda shall abide by the government’s directives on the matter, and at the same time, will continue to strongly prioritize its customers’ welfare, most especially during these trying times. With this, HCPI will be requiring lesser amount of cash deposit, on top of the suggested retail prices from the customers when buying the following models:

Model & Variants SRP Cash Deposit
City 21YM 1.5 S MT PhP 848,000 PhP 7,000
1.5 S CVT PhP 888,000 PhP 7,000
1.5 V CVT PhP 978,000 PhP 7,000
1.5 RS CVT PhP 1,058,000 PhP 7,000
Civic 20YM 1.8 E CVT PhP 1,188,000 PhP 10,000
Brio 20YM 1.2 S MT PhP 601,000 PhP 40,000
1.2 V CVT PhP 661,000 PhP 40,000
1.2 RS CVT PhP 730,000 PhP 60,000
1.2 RS Black Top CVT PhP 735,000 PhP 60,000
HR-V 21YM 1.8 E CVT PhP 1,296,000
1.8 RS Navi CVT PhP 1,515,000 PhP 30,000

For other models affected by the provisional safeguard duty namely Jazz, Mobilio, BR-V, Civic (RS), CR-V (2.0 Gas and V Diesel), HCPI will issue separate information on the amount of required deposit.

In the event that the Bureau of Customs (BOC) returns the amount of the provisional safeguard duty in the form of cash bond depending on the outcome of the investigation by the Tariff Commission, Honda will refund the amount of cash deposit to its customers accordingly.

Meanwhile, customers who may not have the extra budget for the Safeguard Duty, they may opt to discuss or avail of other financing options such as personal loans with their preferred banks in order to help them cover the safeguard duty bond.

For those who would like to purchase a Honda model without the required cash deposit, customers may enjoy the pre-safeguard duty stocks with limited volume available at their preferred Honda dealerships nationwide.

“Our dear customers continue to be Honda’s top priority at all times. We are hoping that with the aforementioned efforts, we will be able to extend a helping hand to our customers in addressing this challenge. Moreover, we remain hopeful that the automotive industry will be able to find the light of recovery in the coming months.” said Mr. Masahiko Nakamura, Honda Cars Philippines, Inc. (HCPI) president.