Here’s a heads-up for fans and potential customers of Geely vehicles. Sojitz G Auto Philippines (SGAP), Geely’s authorized distributor in the Philippines, has announced a price increase on its existing offerings.
Prices for Geely's Philippine lineup might see a slight increase once new stocks arrive
The price hike comes in the wake of moves by the Department of Trade and Industry (DTI) to impose safeguard tariffs on imported vehicles. A Customs Memorandum Order (CMO) has been issued by the Bureau of Customs (BoC) to this effect.
According to SGAP President and CEO Mikihisa Takayama, the existing stocks of Geely vehicles will not be affected, as the higher sticker price will only be applied to new vehicle shipments starting February.
“Our customers can still enjoy the current prices since we, the distributor, and our dealers still have enough inventory,” he said.
Geely Coolray subcompact crossover
Geely’s current lineup in the Philippine market comprises the Coolray subcompact, Azkarra compact, and Okavango midsize crossovers, all classified under AHTN Code 8703 (passenger cars). As defined by Republic Act 8800 or the Safeguard Measures Act, each unit will have a cash bond of Php 70,000 imposed.
For light commercial vehicles classified under AHTN Codes 8704.21.19 and 8704.21.29, the bond is placed at Php 110,000 per unit.
Geely Azkarra compact crossover
These safeguard tariffs were the DTI’s response to a petition by the Philippine Metalworkers’ Alliance (PMA), which seeks to protect local vehicle assembly operations following the influx of imported models.
The fee will be valid for 200 days from the date the CMO was issued, while the Tariff Commission conducts a formal investigation.
Takayama expressed disappointment at the timing of the order, just when the local automotive industry is expected to bounce back from 2020’s slow sales due to the pandemic.
“In spite of this, SGAP is still optimistic that the auto sales for this year will make a rebound. We also hope that the market can adjust to the new higher prices this policy will bring,” he adds.
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Geely Okavango midsize crossover
The CMO could mean that new shipments of the Coolray, Azkarra, and Okavango will be Php 70,000 more expensive than current stocks, although prices have not been finalized.
As this might also be the case for Geely’s upcoming addition to its Philippine lineup, which is slated for an April launch, now is as good a time as any to buy a Geely before the new prices take effect.
More updates on mainstream and upcoming car brands at Philkotse.com.