Sojitz G Auto Philippines (SGAP), the importer and distributor of Geely vehicles in the country, has deferred the implementation of price increase on its vehicles.
In an advisory released on Tuesday, the distributor said that it has postponed “the implementation of the price increase to April as dealers still have enough inventory which are not yet covered by the DTI’s safeguard policy.”
“This means, customers could still take advantage of the current Geely vehicle prices until the end of March,” it said.
The company previously announced that prices of the Coolray, Azkarra, and Okavango models are set to increase following the Department of Trade and Industry (DTI)’s directive to add safeguard tariff on the majority of imported vehicles.
“At the beginning of the year, the DTI has slapped additional safeguard tariff on most vehicle imports in response to a petition seeking to save local vehicle assembly operations. This moved Sojitz G Auto Philippines to announce pending price adjustments on its vehicles such as the Coolray, Azkarra, and Okavango,” it said.
The company said that price adjustment on its vehicles will be announced soon.