Honda Cars PH offers flexible options in line with safeguard tariffs

Updated Apr 28, 2021 | Same topic: Latest Consumer Reports

The company is lowering the required cash deposits on its models.

As with other car brands in the country, Honda Cars Philippines Inc. (HCPI) is complying with the provisional safeguard tariffs levied on imported vehicles. At the same time, it wants to make owning a Honda car easier for customers.  

Honda Brio

Despite being the smallest Honda car locally, the Brio requires the highest cash deposit

The company announced that it is lowering the required cash deposit amount across its local lineup, with emphasis on the Honda City subcompact and Civic compact sedans, Brio subcompact hatchback, and HR-V subcompact crossover. For prospective buyers, the deposits range from Php 7,000 to Php 60,000.

Model & Variants
SRP
Cash Deposit
City
2021 model
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
2020 model
1.8 E CVT
Php 1,188,000
Php 10,000
Brio
2020 model
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
2020 model
1.8 E CVT
Php 1,296,000
-
1.8 RS Navi CVT
Php 1,515,000
Php 30,000
 

For other Honda models such as the Jazz subcompact hatchback, Mobilio MPV, BR-V subcompact crossover, and CR-V compact crossover, HCPI says it will be releasing separate information regarding the required bond amount. It adds that the fee is refundable to customers, depending on the outcome of the Tariff Commission’s investigation.

Honda CR-V

Details on cash deposit for other models such as the CR-V will be available separately

>>> Related: What you need to know about DTI’s safeguard duty affecting car prices

As not everyone might prefer (or be able) to pay the cash deposit, HCPI offers two options. Customers can choose to explore other financing options such as personal loans to help pay for the safeguard duty bond, or they can avail of pre-safeguard duty inventories at Honda dealerships. However, these stocks have limited availability.

“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,” said HCPI President Masahiko Nakamura. “Moreover, we remain hopeful that the automotive industry will be able to find the light of recovery in the coming months.”

Get more industry updates at Philkotse.com.

Know more about Honda City 2024

Honda City

The 2024 Honda City is a subcompact sedan. In the Philippine market, its four variants are City E, City S, City V, and City RS—the prices for these range from Php 973,000 to Php 1,128,000. 

Size-wise, the refreshed City for 2024 is 4,580mm long, 1,748mm wide, and 1,467mm in height. The RS trim is a bit longer at 4,589mm. All trims then get a wheelbase length of 2,600mm and a ground clearance of 134mm. 

Under its hood is a 1.5-liter inline-4 gasoline engine capable of making up to 119 horsepower and 145 Nm of torque. Power is then sent to its front wheels via a continuously variable transmission (CVT). 

Locally, the Honda City competes against the Toyota Vios, Mitsubishi Mirage G4, Mazda3, Nissan Almera, Hyundai Accent, MG 5, etc. 
 

₱ 973,000 - ₱ 1,128,000

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Joseph Paolo Estabillo

Joseph Paolo Estabillo

Author

Joseph holds a degree in Journalism from the University of the Philippines Diliman and has been writing professionally since 1999. He has written episodes for CNN Philippines' motoring show Drive, and has worked on corporate projects for MG Philippines and Pilipinas Shell. Aside from being Philkotse.com’s Content Lead, he also writes content for numerous car dealerships in the U.S., spanning multiple brands such as Alfa Romeo, Chrysler, Dodge, Jeep, and Maserati, among others.

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