![Lower tariffs for hybrids: Imported Toyota and Lexus hybrids see up to 20% price cut 01]()
Following the passage of Executive Order 62, Toyota Motor Philippines and Lexus Philippines have slashed prices of their Japan-made hybrid models.
Executive Order 62 has slashed tariffs on hybrids and plug-in hybrids made in countries not covered by existing free trade agreement. For Toyota and Lexus, only imported-from-Japan hybrid models are seeing price cuts.
Hybrid variants of the Corolla Cross, Camry, Yaris Cross, and Innova Zenix, which are sourced from neighbouring Southeast Asian countries like Thailand and Indonesia, maintain their prices.
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For Toyota, the Alphard and RAV4 see their prices slashed by 8% to 13%, between PHP 300,000 to PHP 420,000.
Lexus hybrid models see a drop of between PHP 410,000 to PHP 1,370,000. The most significant drop is the Lexus LS 500h Executive, with 20% reduction.
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