DTI safeguards: Prepare to shell out as much as P123,200 extra for a brand-new Toyota

Starting March 1, 2021
by Drei Laurel | Feb 22, 2021
PHOTO: Drei Laurel
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Want to own a Toyota? Well, you better be prepared to shell out a little extra starting March 1, as Toyota Motor Philippines (TMP) will soon impose cash bonds to adjust to the Department of Trade and Industry’s (DTI) new safeguard measures.

If you’ll recall, the DTI slapped an additional P70,000-P100,000 bond on imported vehicles in a bid to ‘save’ the local car manufacturing industry. In Toyota’s case, affected models include the Fortuner, the RAV4, the Avanza, the Hilux, and the Rush, as well as the Lexus CT200 and the Lexus UX. The cash bond will amount to either P78,400 or P123,200 depending on the vehicle.

Not all Toyotas are included here by the way. Exempted models include the Vios, Innova, Alphard, and Hiace. Look:

Cash bonds for select Toyota models

Model Cash bond
Toyota Fortuner (G and V variant) P78,400
Toyota RAV4 P78,400
Toyota Camry (G variant) P78,400
Toyota Corolla Altis P78,400
Toyota Corolla Cross P78,400
Toyota Rush P78,400
Toyota Avanza P78,400
Toyota Wigo P78,400
Toyota 86 P78,400
Toyota FJ Cruiser P78,400
Toyota Hilux P123,200
Toyota Hilux Cab and Chassis P123,200
Toyota Hiace Cargo P123,200
Lexus CT200 P78,400
Lexus UX (Base variant) P78,400

Exempted models

Model
Toyota Vios
Toyota Innova
Toyota Prius
Toyota Supra
Toyota Camry (V variant)
Toyota Fortuner (Q and LTD variant)
Toyota Prado
Toyota LC200
Toyota Hiace
Toyota Alphard
Toyota Coaster
Other Lexus models

It’s important to note, however, that this isn’t a price hike yet. TMP will only keep the cash bond paid by buyers if the DTI eventually rules in favor of the safeguard duties; if the DTI otherwise opts not to enforce the safeguard measure, the amount will be returned to customers.

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In case you missed it, here's what these safeguards mean for the local auto industry.

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Again, all of this will be in effect by Monday, March 1. You can reach out to your local dealer for more information regarding these cash bonds.

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PHOTO: Drei Laurel
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