Recently there's been talk that some local carmakers have already implemented new prices on several vehicle models because of the excise tax proposal in congress. In the course of interviewing a resource person for another story, our source said that Toyota Motor Philippines (TMP) and Subaru distributor Motor Image Pilipinas had already raised the prices of the Fortuner and Forester, respectively.
What gives? Are some companies already rolling out new prices on their line-ups this early? We contacted a Toyota dealership to inquire about the rumored increase and found out that yes, the price of its popular SUV had gone up. The base model Fortuner's price increased by P27,000, and the top-spec 4x4 model by P42,000. According to the dealership, the new rates were effective as of March 1, 2017, and said this is because of the excise tax proposal.
Because the excise tax bill has not been passed yet, this sounded suspicious—and opportunistic—to us. We reached out to a contact in TMP for clarification, and he says that yes, the company is increasing prices. In fact, we were sent an updated price list of some Toyota vehicles (see below). Our source added though that plans to increase prices have been in the works as early as last year, and that uncertain foreign exchange rates played a part as well. Nothing else is official from TMP regarding the proposal, but our contact added that this is leading up to an increase due to the excise tax. In fact, adjustments if ever the proposal pushes through are already being discussed, he says.
We also contacted a Mitsubishi dealership to see if the Japanese brand is rolling out new prices as well. We were told on the phone that the company will roll out higher prices by the second week of March. After reaching out to Mitsubishi Motors Philippines to confirm, we found out this isn't true. So no new rates for Mitsubishi yet.
Lastly, we called a Subaru and Honda dealership. Prices are still the same, though the former told us to keep up to date with what's going on regarding the excise tax proposal.
While there's been nothing drastic price-wise from any major carmaker, it would be wise for consumers to stay updated on the excise tax issue. There may be dealers looking to take advantage of all the uncertainty, and the only defense against it is to stay informed. We'll keep you guys posted.
|
MODEL/VARIANT |
NEW PRICES |
OLD PRICES |
||
|
86 |
2.0 A/T |
1,871,000 |
1,849,000 |
|
|
2.0 M/T |
1,771,000 |
1,749,000 |
||
|
Vios |
1.5 G A/T |
919,000 |
902,000 |
|
|
1.3 E A/T |
812,000 |
800,000 |
||
|
1.3 Base MT |
611,000 |
599,000 |
||
|
Innova |
2.8 V Dsl A/T |
1,467,000 |
1,445,000 |
|
|
2.8 G Dsl A/T |
1,371,000 |
1,349,000 |
||
|
2.8 E Dsl A/T |
1,244,000 |
1,222,000 |
||
|
2.8 J Dsl M/T |
1,038,000 |
1,021,000 |
||
|
Fortuner |
2.8 V Dsl 4x4 A/T |
2,168,000 |
2,126,000 |
|
|
2.4 V Dsl 2x2 A/T |
1,778,000 |
1,736,000 |
||
|
2.4 G Dsl 2x2 A/T |
1,503,000 |
1,476,000 |
||
|
2.7 G Gas 2x2 A/T |
1,419,000 |
1,392,000 |
||
|
Hi-Ace |
Super Grandia 3.0 AT |
Leather |
2,112,000 |
2,090,000 |
|
Fabric |
1,957,000 |
1,935,000 |
||
Recently there's been talk that some local carmakers have already implemented new prices on several vehicle models because of the excise tax proposal in congress. Just earlier today, a resource person in the industry said that Toyota Motor Philippines (TMP) and Subaru distributor Motor Image Pilipinas had raised the prices of the Fortuner and Forester, respectively.
What gives? Are some companies already rolling out new prices on their lineups this early? We contacted a Toyota dealership to inquire about the rumored increase and found out that yes, the price of the SUV had gone up. The base model Fortuner's price increased by P27,000 and the top-spec 4x4 model by P42,000. According to the dealership, the new rates were effective as of March 1, 2017, adding this is because of the excise tax proposal.
We reached out to a contact in TMP for clarification, and he says that yes, the company is increasing prices. In fact, we've been sent an updated price list of some Toyota vehicles (see below). Our source added though that plans to increase prices have been in the works as early as last year, and that uncertain foreign exchange rates played a part as well. Nothing else is official from TMP regarding the proposal, but our contact added that this is leading up to an increase due to the excise tax. In fact, adjustments if ever the proposal pushes through are already in the works, he says.
We also contacted a Mitsubishi dealership to see if the Japanese brand is rolling out new prices as well. We were told on the phone that the company will roll out higher prices by the second week of March. After reaching out to Mitsubishi Motors Philippines to confirm, we found out this isn't true. So no, no new rates for Mitsubishi yet.
Lastly, we called a Subaru and Honda dealership. Prices are still the same, though the former told us to keep up to date with what's going on regarding the excise tax proposal.
While there's been nothing drastic price-wise from any major carmaker, it would be wise for consumers to stay updated on the excise tax issue. There may be dealers looking to take advantage of all the uncertainty, and the only defense against it is to stay informed. We'll keep you guys posted.
|
MODEL/VARIANT |
NEW PRICES |
OLD PRICES |
||
|
86 |
2.0 A/T |
1,871,000 |
1,849,000 |
|
|
2.0 M/T |
1,771,000 |
1,749,000 |
||
|
Vios |
1.5 G A/T |
919,000 |
902,000 |
|
|
1.3 E A/T |
812,000 |
800,000 |
||
|
1.3 Base MT |
611,000 |
599,000 |
||
|
Innova |
2.8 V Dsl A/T |
1,467,000 |
1,445,000 |
|
|
2.8 G Dsl A/T |
1,371,000 |
1,349,000 |
||
|
2.8 E Dsl A/T |
1,244,000 |
1,222,000 |
||
|
2.8 J Dsl M/T |
1,038,000 |
1,021,000 |
||
|
Fortuner |
4x4 |
2.8 V Dsl A/T |
2,168,000 |
2,126,000 |
|
2x2 |
2.4 V Dsl A/T |
1,778,000 |
1,736,000 |
|
|
2.4 G Dsl A/T |
1,503,000 |
1,476,000 |
||
|
2.7 G Gas A/T |
1,419,000 |
1,392,000 |
||
|
Hi-Ace |
Super Grandia 3.0 AT |
Leather Monotone |
2,112,000 |
2,090,000 |
|
Fabric Monotone |
1,957,000 |
1,935,000 |
||
