Honda to offer lighter payment options in response to DTI safeguard duty

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Honda Cars 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 P70,000 and P110,000 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 prioritize its customers’ welfare, most especially during these trying times.

With this, HCPI will be requiring smaller amount of cash deposit, on top of the suggested retail prices from the customers when buying the following models:

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 a separate information on the amount of required deposit.

In the event that the 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, for 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.

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