Yes, the Honda BR-V will get a significant price jump
Recently, Honda Cars Philippines, Inc. (HCPI) announced that they will be launching the all-new BR-V in the market. The date they set is November 21; that's actually more than a full month away.
Yes, there's still a long way to go. The delay is a result of many factors. Honda won't officially say why, but the most likely reasons will include the parts shortage, production delays, shipping issues, and exchange rate issues. And we can also toss in the fact that Honda still had stocks of the previous generation BR-V that they are probably giving good discounts for now.
As we know, the BR-V is a critical model for Honda Cars Philippines. Market demand for the BR-V and other similar 7-seater compact crossovers and MPVs is very high. The BR-V had so much potential that they actually assembled the model in Laguna along with the City. Well, that was until they shut it down just before the pandemic set in.
Still, it begs the question: how much will the all-new BR-V retail for?
The outgoing generation currently retails for PHP 1,058,000 for the S CVT variant, while the top-of-the-line V CVT retails for PHP 1,168,000. The 2023 model will have 4 variants, and based on what the dealers are telling us though, the prices will increase significantly.
According to HCPI, the pricing for the 2023 BR-V is as follows:
2023 Honda BR-V 1.5 S MT PHP 1,100,000
2023 Honda BR-V 1.5 S CVT PHP 1,190,000
2023 Honda BR-V 1.5 V CVT PHP 1,300,000
2023 Honda BR-V 1.5 VX CVT PHP 1,390,000
These prices should be treated as indicative only; they may or may not change especially with the exchange rate being as nuts as it is. And also, the prices we are getting from sources vary. But what we can see is that the pricing will be significantly higher for the BR-V that will be imported as a CBU from Indonesia. That means almost all the vehicles in the class (e.g. Avanza, Rush, Xpander, Xpander Cross, Veloz, etc.) will be Indonesian-made.
If the prices are accurate and final, then we can see Honda's strategy. We don't have a reference point for the 2023 S MT, but even with the manual, it's PHP 42,000 more than the outgoing 2022 S CVT. The 2023 S CVT model, however, is PHP 132,000 more than the one it is replacing. As for the V CVT the jump in price is also PHP 132,000 from PHP 1,168,000 to PHP 1,300,000.
The VX will be an interesting model because it will be the first BR-V in the market to have Honda Sensing technology. Though at PHP 1,390,000 (indicative) we will have to wait and see how the market will react to the pricing vis-a-vis the features.
The other vehicles in the same class are the Mitsubishi Xpander Cross (sole 1.5G 4AT variant at PHP 1,280,000, the Toyota Veloz (4 variants from PHP 1,210,000 to PHP 1,265,000), and the Suzuki XL7 (sole variant at PHP 1,138,000).
Update: Honda Cars Philippines Inc has released the official price ranges for the BR-V. These are not MSRPs; they'll release that during the launch.