Price slash on the Toyota RAV4, Alphard, and Lexus HEVs following Executive Order No. 62 (S.2024)
Yes, you read that headline right. As of July 20, 2024, the RAV4, Alphard, and the Lexus Hybrid Electric Vehicle (HEV) lineup of vehicles are getting a price cut. The announcement from Toyota Motor Philippines follows the issuance of Executive Order No. 62 (S.2024) that covers the exemption of HEVs and Plug-in Hybrid Electric Vehicles (PHEVs) from import duty.
RAV4, Alphard, and HEV lineup of Lexus all get lower prices after import duty exemption
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Photo: Toyota
As can be seen above, select Toyota models plus a lineup of HEVs will be covered by EO No. 62 S.2024. The latest EVIDA update that we posted on our site did hint at a possible price cut to hybrid electric vehicles and Toyota saw it prudent to heed, and make public, its compliance with the Executive Order.
Photo: Toyota
As of July 20, 2024, the covered vehicles’ prices are as listed below:
RAV4
2.5L LTD HEV CVT PHP 2,356,000USD 40,005INR 3,405,127EUR 38,521CNY 292,144
2.5L LTD HEV CVT – White Pearl Crystal Shine – PHP 2,371,000USD 40,260INR 3,426,806EUR 38,766CNY 294,004
2.5L XLE HEV CVT – PHP 2,046,000USD 34,741INR 2,957,084EUR 33,452CNY 253,704
2.5L XLE HEV CVT – White Pearl Crystal Shine – PHP 2,061,000USD 34,996INR 2,978,763EUR 33,697CNY 255,564
Alphard
2.5 HEV CVT – PHP 4,665,000USD 79,212INR 6,742,325EUR 76,273CNY 578,460
2.5 HEV CVT – Platinum White Pearl Mica – PHP 4,685,000USD 79,551INR 6,771,231EUR 76,600CNY 580,940
Lexus
UX 300h F SPORT – from PHP 3,368,000USD 57,189INR 4,867,770EUR 55,067CNY 417,632
RX 500h F SPORT Performance – from PHP 6,418,000USD 108,978INR 9,275,935EUR 104,934CNY 795,832
UX 300h – from PHP 2,938,000USD 49,887INR 4,246,291EUR 48,036CNY 364,312
RX 350h Premier – from PHP 5,468,000USD 92,847INR 7,902,900EUR 89,402CNY 678,032
RX 350h Executive – PHP from PHP 4,778,000USD 81,130INR 6,905,643EUR 78,120CNY 592,472
NX 350h Premier – from PHP 4,228,000USD 71,791INR 6,110,728EUR 69,128CNY 524,272
NX 350h Executive – from PHP 3,158,000USD 53,623INR 4,564,257EUR 51,633CNY 391,592
LBX Cool – from PHP 2,558,000USD 43,435INR 3,697,077EUR 41,823CNY 317,192
LS 500h Premier – from PHP 9,038,000USD 153,465INR 13,062,621EUR 147,771CNY 1,120,712
IS 300h Premier – from PHP 3,098,000USD 52,604INR 4,477,539EUR 50,652CNY 384,152
IS 300h Executive – from PHP 2,868,000USD 48,699INR 4,145,120EUR 46,892CNY 355,632
ES 300h Luxury – from PHP 3,808,000USD 64,660INR 5,503,702EUR 62,261CNY 472,192
ES 300h Executive – from PHP 3,498,000USD 59,396INR 5,055,659EUR 57,192CNY 433,752
LM 350h 7-Seater – from PHP 7,158,000USD 121,543INR 10,345,457EUR 117,033CNY 887,592
LM 350h 4-Seater – from PHP 10,718,000USD 181,992INR 15,490,725EUR 175,239CNY 1,329,032
*** Please note that the prices on the Lexus website did not as explicitly indicate that they are updated as of July 20, 2024, unlike that of Toyota’s
Photo: Lexus
Electrification has continuously been getting strong pushes from the government, and electric vehicles, particularly of the full and plug-in sort, are already reaping the “rewards”. It won’t be long before manufacturers other than Toyota will follow suit given the Executive Order, and that said, HEVs will inevitably become more competitively priced in an industry where value for money is possibly the biggest consideration for any would-be buyer.
Like you, we eagerly await announcements from other brands if they are going to slash the prices of their HEVs as well. As we said, we believe it won’t be long now, and when the announcements come in, trust that we’ll be keeping you, our readers, abreast of the new prices as they come.
Pretty exciting time to be alive for electrified vehicle fans, yes?
