Wednesday, March 22, 2017
How Much Are You Willing to Pay for a Honda Civic Type-R?
You likely read the news before you slept or just after you woke up; and I’m confirming it: the Honda Civic Type-R will be shown at the Manila International Auto Show at the end of the month. I swear, this is no joke. Just a few weeks after its global debut, a production-ready (likely part of a small batch of production prototypes touring around the globe specifically for motor shows) version of the hottest Civic will be the main attraction at Honda’s stand.
Though officially labeled an “Exhibition Model” for MIAS, I don’t need to look far back into Honda Cars Philippines’ history to tell you that these exhibition models do eventually make it to showroom floors. Consider HCPI’s track record: the S2000, the CR-Z, the BR-V—these models, once called exhibition models, were eventually offered for sale to the motoring public. So the question beckons, how soon will you have to wait and how much do you need to pay to get your grimy hands on this 320-horsepower, front-wheel drive monster?
First, about the wait. It’s going to be a long wait, unfortunately. If news from various automobile outlets around the world is to be believed, Honda is experiencing an overwhelming demand for this Civic Type-R; it is, after all, the first global Type-R model. As such, only the Honda assembly plant in Swindon, UK is making the Type-R for all markets, including the US and Japan and this is causing a supply shortage. In the US for instance, one of Honda’s biggest markets, supply of the Civic Type-R might be limited to just a handful per dealership. Some dealerships may not even get one at all.
Now, let’s just say Honda Cars Philippines does manage to snag some Type-R for hot hatch fans, it won’t be cheap. Since it comes from the UK, it will be levied with the appropriate duties and excise tax. Not to mention the more expensive shipping cost. How much? It’s time to do some math.
Let’s look at the MINI Cooper JCW, a hot hatch that’s made in, you guessed it, the UK. Here, it’s being sold for P 3,550,000 or around USD 71,000 at the current exchange rates. In comparison, it’s being sold in the US for just P 1,660,000 and in the UK for P 1,881,000. That makes the Philippine price double compared to the US or UK. Going with US-sourced cars like the Ford Mustang EcoBoost, the Philippine price is P 2,509,000. It’s more manageable given the US price would be the equivalent of P 1,714,000; the UK sells it at P 1,944,000. Finally, how about something from Japan like the Subaru WRX STI? Here, it’s P 2,598,000. In the US? P 2,051,000. In the UK? P 1,955,000.
Going to the Honda Civic Type-R, it will have a US price equivalent to P 2,010,000. That’s already the high-end GT trim. In the UK, it will retail for around P 2,025,000 when equipped with the same GT package. Assuming that MINI’s local distributor and HCPI have the same margins and that the added cost is due to shipping, excise, and duties from the UK, the Philippine price of the Civic Type-R will land at an eye-watering P 4,800,000.
Don’t give up your hopes just yet. If the grapevine is to be believed, HCPI may be able to sell the Civic Type-R for around P 2,800,000 in limited numbers. That’s certainly a more palatable figure; something the Filipino consumer can consider given the Subaru WRX STI is moving 30-40 units in a good month.