Honda Cars PH to Implement Price Increase by July 1
Honda Cars Philippines, Inc. (HCPI) has announced that it will increase the prices of its vehicles by July 1.
According to HCPI, “unfavorable foreign exchange rates” has affected its business and as such, “would have to increase the prices of Honda vehicles starting July 1, 2019.”
Apparently, while the USD to PHP exchange rate has remained at an average of PHP52.36 since the end of 2018–with a low of PHP51.60 on April 12, 2019, and a high of PHP53.44 on March 14, 2019–the cost of doing business in the country has become a problem for the Japanese carmaker, forcing it to hike its prices a month from now.
The last time HCPI had a price increase for its products was in July 2018.
Attached below is HCPI’s statement in full as posted on Honda Cars Manila‘s Facebook page.
Now’s a good time as any if you were planning to buy a Honda car since you only have a month left before the price increase takes effect.