Honda to increase prices from 1st July 2019

MANILA: Looking to bring a Honda home sometime soon? If the answer is yes, then you better hurry up as the Japanese automobile manufacturer is all set to increase the prices of its offerings in the Philippines on 1st July 2019. Honda Cars Philippines Inc. (HCPI) has even released an official statement signed by Noriyuki Takakura, who is the HCPI president.

The company has cited the unfavourable foreign exchange rates responsible for the surge in the prices. The official statement reads, “In recent months, our company has been facing challenges due to unfavorable foreign exchange rates that has affected our business. As a result, we would have to increase the prices of Honda vehicles starting July 01, 2019. Rest assured that Honda Cars Philippines Inc. exerted all efforts to minimize the effects to you, our most esteemed customer”.

As Honda has not revealed the increase in the prices yet, we can’t comprehend whether the increment would be minor or major. However, with the official statement out, we expect some major price surges on 1 July 2019. Honda recently launched the newest iteration of its most affordable product, i.e., Brio. While the 2019 Honda Brio currently retails for as low as Php 585,000, expect the hatch to creep towards the Php 600,000 mark.

On the other hand, the pricey offerings like the Accord, Oddessy, and CR-V will surely become even more expensive. On the flip side, the increase in the price of Honda cars may help other automobile manufacturers who have their products competing with Honda vehicles.

So, as we mentioned before, if you have to buy a Honda car anytime soon, head over to the nearest Honda dealership sooner than later and bring home one before the prices start climbing the ladder.