A memo has been spreading across Facebook regarding a memo to dealers that Honda Cars Philippines, Inc. (HCPI) will be increasing its prices this July 1, 2019, which will take effect across Honda’s dealerships nationwide.
The memo states that there will be an increase in prices due to unfavorable exchange rates that have affected HCPI’s operations. The automobile manufacturer also emphasized that they “exerted all efforts to minimize the effect” to its customers.
The amount of increase was not mentioned in the memo, so we contacted HCPI for more details. According to Atty. Louie Soriano, HCPI Division Head for Sales and Spokesperson:
There would be an approximately 1 percent price increase across the entire Honda model lineup, except for Honda Odyssey. We will announce by July 1, 2019, the new Suggested Retail Prices (SRP). This is due to the increase in parts and importation cost brought about by unfavorable foreign exchange rates. We seek for your utmost understanding and cooperation regarding this matter.
The price increase does not sound like much, especially since most buyers undergo financing, which will not affect monthly amortization quite as much. This also puts it in line with the 2019 Honda Brio‘s P585,000 starting price, which was announced to be introductory during its launch. We’ve driven the all-new Brio to Bagiuo and La Union, and if you have decided that you want to snag Honda’s newest affordable hatchback before the price increase, then the time is now.
Actually, if you are looking for a good time to buy any new Honda, there is no better time to buy than now.