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.
Cash bonds for select Toyota models
|Toyota Fortuner (G and V variant)||P78,400|
|Toyota Camry (G variant)||P78,400|
|Toyota Corolla Altis||P78,400|
|Toyota Corolla Cross||P78,400|
|Toyota FJ Cruiser||P78,400|
|Toyota Hilux Cab and Chassis||P123,200|
|Toyota Hiace Cargo||P123,200|
|Lexus UX (Base variant)||P78,400|
|Toyota Camry (V variant)|
|Toyota Fortuner (Q and LTD variant)|
|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.
In case you missed it, here's what these safeguards mean for the local auto industry.
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.