We are nearly halfway through 2021, and the local automotive industry still has several obstacles to overcome. One of them is the safeguard bond that saw most automakers adjust their pricing. Some charged the customers the full amount, while others took the heavy blow. However, some are not charging the bond yet.
One of those brands is MG, and you can still buy any of their models without shelling out extra for the bond. If you're in the market for any of their products, then this announcement comes as good news, especially since the bond is rather hefty.
To recap, it's an additional PHP 70,000 for passenger cars and PHP 110,000 for commercial vehicles. Given the recent economic slump, this saving is helpful for those who need a new set of wheels. That said, Atty. Alberto B. Arcilla, president, and CEO of MG Philippines is confident that the country will bounce back with the automaker helping out along the way.
“As the local economy and industry continue to recover and strengthen, MG Philippines remains committed to giving Filipinos access to well-designed, safe, attainable, and modern mobility solutions,” said Arcilla.
With that, all MG models will retain their pricing. However, you shouldn't wait too long since this is a rather limited window of opportunity. By May 15, 2021, MG will require an additional deposit from clients to cover the provisional safeguard measure bond. That means you have about two weeks to buy that brand new MG without having to pay extra.
For now, MG Philippines isn't saying what their plans are after May 15. They have yet to announce if they will ask for the full PHP 70,000 deposit for all purchases or if they will absorb some of the cost. For the sake of those who want an MG above everything else, let's hope for the latter.