Mitsubishi Motors Philippines Corp. (MMPC), the country’s second largest car company, has issued a public advisory requiring buyers to post provisional cash deposit on brand new motor vehicle purchases affected by the provisional safeguard duty imposed by the government.
In the public advisory, MMPC said it will collect P78,400 inclusive of 12 percent VAT for every purchase of Xpander variants GLX MT, and GLS AT. The company also requires the same deposit for Montero Sport variants CROSS AT, GLX 2WD MT, GLS 2WD AT, and GT 2WD AT.
For its LCV model Strada, the car company requires a provisional cash deposit of P123,200 per model of Cab and Chassis 2WD MT, GL 2WD MT, GL 4WD MT, GLS 2WD MT, GLS 2WD AT, GLS 4WD MT, Athlete 2WD AT, and Athlete 4WD AT.
Exempted from the provisional safeguard duty are Mitsubishi Montero Sport 4×4 GT, Outlander PHEV, L300, and Mirage/Mirage G4.
MMPC also said that some of its dealers still have available inventories of Xpander, Montero Sport 2WD and Strada vehicles that are not yet affected by the provisional safeguard duty and which are not affected by the provisional cash deposit.
Last week, Toyota Motor Philippines and Isuzu Philippines Corp. issued similar public advisories requiring buyers of their respective affected vehicles to post a security deposit.
The required deposit by the car companies followed after the implementation BY the Department of Trade and Industry (DTI) of safeguard measures on imported passenger cars and light commercial vehicles to stop the surge of imported completely built up packs and to save automotive jobs in the country.
The Bureau of Customs has already started collecting the provisional safeguard duty last month pursuant to the DTI Administrative Order No. 20-11.