Toyota Motor Philippines becomes the latest carmaker to announce reduced pricing for their HEVs thanks to the passage of Executive Order No. 62 (Series 2024).
Executive Order No. 62 exempts both Hybrid Electric Vehicles and Plug-In Hybrid Electric Vehicles from import duties, a perk that was exclusive before to Battery Electric Vehicles. As such effective July 20, the suggested retail prices of the Toyota RAV4, Alphard, as well as several Lexus HEVs have been significantly dropped:
Toyota Models
- Toyota RAV4 HEV XLE – P 2,046,000 (from P 2,346,000)
- Toyota RAV4 HEV LTD – P 2,356,000 (from P 2,696,000)
- Toyota Alphard HEV – P 4,665,000 (from P 5,085,000)
- Lexus IS 300h Executive – P 2,868,000 (from P 3,268,000)
- Lexus IS 300h Premier – P 3,098,000 (from P 3,528,000)
- Lexus ES 300h Executive – P 3,498,000 (from P 3,878,000)
- Lexus ES 300h Luxury – P 3,808,000 (from P 4,258,000)
- Lexus LS 500h Executive – P 5,468,000 (from P 6,838,000)
- Lexus LS 500h Premier 5-Seater – P 9,038,000 (from P 9,938,000)
- Lexus LS 500h Premier 4-Seater – P 11,158,000 (from P 10,508,000)
- Lexus LM 350h 7-Seater – P 7,158,000 (from P 7,738,000)
- Lexus LM 350h 4-Seater – P 10,718,000 (from P 12,048,000)
- Lexus LBX – P 2,558,000 (from P 2,968,000)
- Lexus UX 300h Premier – P 2,938,000 (from P 3,378,000)
- Lexus UX 300h F Sport – 3,368,000 (from P 3,868,000)
- Lexus NX 350h Executive – P 3,158,000 (from P 3,588,000)
- Lexus NX 350h Premier – P 4,228,000 (from P 4,818,000)
- Lexus RX 350h Executive – P 4,778,000 (from P 5,268,000)
- Lexus RX 350h Premier – P 5,468,000 (from P 6,418,000)
- Lexus RX 500h F Sport – P 6,418,000 (from P 6,908,000)
Corolla cross hev?
ReplyDeleteSo this is why they were bumping the prices so fast, to cover the “loss” from the hev law and then make it look like a discount. Lexus nx350h premier went from 4.2m to 4.7m to 4.8m in about five weeks. After this hev discount its now back to 4.2m.
ReplyDeletethey're really good at being greedy, and I think Lexus doesn't offer discounts for cash buyers same with toyota unlike other brands
DeleteThis is serious gouging and should be looked into by DTI. 600K is no joke.
Delete2.046M for a base rav4 is still steep.
ReplyDeleteThis has me scratching my head as to why toyota didn't offer the new Prado with the hybrid engine instead. I would gladly trade the 3rd row and slightly bigger cargo area for a lower price and better engine performance.
ReplyDeleteWhat about the other HEVs like Corolla ALTIS, Corolla Cross, Camry, Yaris Cross?
ReplyDeletethese models are from thailand so no tariffs already coz of AseanFreeTradeAgreement (AFTA)
DeleteNow there is room for a higher trim RAV4. GR Sport in the future maybe?
ReplyDeleteAyos...gaya din ng TRAIN LAW tax on cars ang rich car buyers lang ang nakinabang😥😥😥
ReplyDeletebakit wala si corolla cross?
ReplyDeleteSince gawang Thailand and Corolla Cross natin, it already has tariff exemption (under ASEAN Free Trade Agreement)
DeleteSeems list is incomplete. Are there more models to be announced?
ReplyDeleteI hope Honda CRV HEV comes next. And maybe Mazda CX60 and CX90, which are also from Japan. This gets exciting if you get massive price cuts for those.
ReplyDeleteThe CX-90 we have is the mild hybrid. They should bring in the plug-in hybrid, which will benefit hugely from this exemption.
DeleteWhen will the rest of the manufacturers follow? Its hard to justify going hybrid with them being the most expensive in the line! Users and manufactures should be incentivized by going hybrid. Kudos!
ReplyDeleteJust sad that there were no price reduction for other hybrids such as the Zenix, Corolla Cross, Yaris Cross, and Camry. 😞
ReplyDeleteThere was a good discount on the Camry not long ago. It might be a good idea to ask around if they are still offering it at the dealer level.
DeleteNow watch sales agents just add that back in via financing.
ReplyDeleteI wonder when the price drops will take effect.
ReplyDeleteWhat about the Corolla Cross and Yaris Cross HEVs?
ReplyDeleteSince ASEAN made ang mga iyan, they already have tariff exemption via the ASEAN Free Trade Agreement.
DeleteThe reason why the Corolla Altis HEV, Corolla Cross HEV, Innova Zenix HEV and Yaris Cross HEV did not have price cuts is because they already enjoy 0% import duties/taxes due to the ASEAN Free Trade Area (those Toyotas are amnufactired in Thailand and Indonesia). The Toyota and Lexus HEV models that had price cuts due to E0 42 (HEVs now with 0% import duties/taxes) are those manufactured outside of the ASEAN, meaning Japan. And those HEVs do not meet the main requirement of the JPEPA to enjoy 0% import duties/taxes (should have at least 3001 cc engine displacement). EO 42 incentivizes all HEVs and EVs not manufactured inside the ASEAN by exempting them from import duties/taxes which is at least 30% for those manufactured in Japan.
ReplyDeleteTMPC ain't dropping the prices of made in Indonesia and Thailand HEV vehicles 🤣
ReplyDeleteThey're making lots of money from it 🤣
The hybrid units made in ASEAN already enjoy 0 percent import tax/duties as part of the ASEAN Free Trade Agreement.
DeleteCan you even get these units at SRP? Heard that they will only sell to you if you buy with financing and insurance and you buy lots of accessories.
ReplyDeletefunny how no toyota showroom will sell the rav4s at the new lower srp.
ReplyDelete