All imported vehicles to see price increases due to safeguar

All imported vehicles to see price increases due to safeguard duties


The Department of Trade and Industry’s (DTI) Safeguard Measures Act has hit the automotive industry hard as it is still recovering from the still-ongoing pandemic. While the act itself is meant to protect local automotive manufacturers, by imposing additional taxes on imported vehicles, the move has also caused an increase in the prices of imported units in the country. It is important to note that majority of the vehicles sold in the Philippines come from countries such as Japan, Thailand, Indonesia, and China. With the new tariffs in play, these vehicles could see significant price increases in the coming months.  

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