Motor Image Pilipinas Inc. (MIPI), the exclusive distributor of Subaru vehicles in the Philippines, is set to increase the price of certain units due to dramatic lost of Philippine Peso against U.S. Dollar. MIPI said the price hike will take effect on January 1, 2017.
The price adjustment is due to the unstable status of the currency conversion rates caused by the weakening of Philippine Peso in the past few months. Thus, the cost of importing vehicles went notably higher than usual.
Moreover, the fluctuation in FOREX rates will sacrifice the cost of Subaru XV, Forester, and Levorg models by January 2017. The projected price increase is around P20,000 to P30,000.
As you can remember, Mitsubishi Motors Philippines Corporation (MMPC) has also announced to bring up prices of its imported vehicles. MMPC notes that the hike will range from 3% to 5%, or around P10,000 to P20,000. Among the units that will be affected are the Mirage, Mirage G4, Montero Sport, and Strada, which will be coming from Thailand.
For more information about Subaru and its vehicles, visit the AutoDeal Car Brands page.
Latest News
-
Out of date? Don't hesitate: LTO announces pickup and renewal schedule for expired licenses / News
The LTO has designated specific dates for drivers to renew their licenses and pick up new cards, especially for those that expired between April and August 2023.
-
Mitsubishi Triton strikes five, receiving a five-star rating from ANCAP / News
Mitsubishi's latest model, the Triton, earns a five-star safety rating, setting high expectations for its release in the Philippines.
-
Mitsubishi partners with Security Bank to start car financing in the Philippines / News
Mitsubishi Motors and Security Bank are teaming up to form a new financing experience, Mitsubishi Motors Finance Philippines Inc., aiming to start offering services by 2025.
Popular Articles
-
Cheapest cars under P700,000 in the Philippines
Aug 25, 2023
-
First car or next car, the Ford EcoSport is a tough package to beat
Jun 18, 2021
-
Car Maintenance checklist and guide – here’s everything you need to know
Earl Lee · Jan 12, 2021
-
Most fuel efficient family cars in the Philippines
Bryan Aaron Rivera · Nov 27, 2020
-
2021 Geely Okavango — Everything you need to know
Joey Deriquito · Nov 19, 2020
-
Family cars in the Philippines with the biggest trunks
Sep 20, 2023
-
Head to head: Toyota Rush vs. Suzuki XL7
Joey Deriquito · Oct 28, 2020
-
Why oil changes are important for your car
Earl Lee · Nov 10, 2020
-
2021 Kia Stonic — What you need to know about it
Joey Deriquito · Oct 16, 2020
-
Top 7 tips for buying a used car in the Philippines
Joey Deriquito · Nov 26, 2020