Legado Motors, Inc., the official distributor of GAC Motor in the Philippines, announced that it will be increasing the prices of its entire vehicle line-up effective March 1, 2021.
A total of Php 78,000 will be added to the SRPs of the GA4, GS3, GS4, GN8, and GS8. The price increase is due to Republic Act No. 8800 or the Safeguard Measures Act that imposes an additional tax on imported vehicles. The said act is “set to provide protection on domestic industries and producers from imported goods, which threatens to cause serious damages on domestic industries and producers.”
The act of Safeguard Tax on imported vehicles was a response to the petition filed by the Philippine Metalworkers’ Alliance (PMA) that sought to protect the operations of the local vehicle assembly.
Despite the situation, Legado Motors, Inc. remains optimistic that the sales volume will continue to increase and will help the automotive industry bounce back from the great impact of the pandemic.
“We are in the high hopes that the local market will still continue to patronize the brand despite the higher prices implemented by the policy,” said Wilbert Lim, president and CEO of Legado Motors, Inc.
For more information about GAC in the Philippines, visit www.gacmotorph.com.