Editor s Note
AutoIndustriya.com
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There is a big issue brewing in the Philippine auto industry.
The DTI is legally empowered by Republic Act 8800 to protect Philippine-made products against similar or competing imported products via safeguard measures, and that is what they will do. For 200 days the DTI will require a PHP 70,000 safeguard bond for every passenger vehicle and PHP 110,000 for every light commercial vehicle imported from most of the major countries our market sources them from, with some exceptions depending on vehicle type and country of origin. The 200 days will be used to buy time for the concerned government agencies to investigate and meet about what to do in the long term.