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.
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.
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.”
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