It's official: Toyota Motors Philippines (TMP) has released the prices for their 2018 model year lineup. This comes after the declaration of the the new excise tax under the Republic Act 10963, or the Tax Reform for Acceleration and Inclusion (TRAIN).

Toyota officially releases 2018 pricing with excise tax

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Based on the chart, a majority of Toyota's volume sellers will see a slight increase in their prices. Starting with the Vios, popular variants such as the 1.3 E A/T and 1.5 G M/T see an increase of Php 25,000 and Php 28,000 respectively. The newly-refreshed Yaris, on the other hand, also saw a dramatic price hike as the top-of-the-line 1.5 S is now retailing for Php 1,040,000 (+Php 34,000). Meanwhile, the entry-level 1.3 E M/T and CVT variants now have a sticker price of Php 927,000 and Php 857,000 (+Php 50,000).

Next comes the Fortuner with prices now starting at Php 1,592,000. Most of the 4x2 G models see a price hike of Php 127,000 while 4x2 V variants are now up by Php 73,000. As for the range-topping 4x4 V, it only gets a slight Php 17,000 price hike.

Toyota officially releases 2018 pricing with excise tax

The Innova also bears significant price increases for 2018, particularly the mid-range and top-of-the-line models. Compare to 2017, the 2.8 V A/T and 2.8 G A/T now retail for Php 1,624,000 and Php 1,471,000 accordingly. The more affordable models, on the other hand, saw an increase ranging between Php 40,000 to Php 64,000 depending on the variant.

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As expected, the Hilux is now more affordable as all pickups (both single and double cab body styles) are exempted from the excise tax. Both the automatic and manual versions of the 2.8 G 4x4 Hilux get a price reduction of Php 145,000. On the other hand, the 2.4 G 4x2 automatic and manual get a Php 70,000 and Php 55,000 decrease in price, respectively.

Toyota officially releases 2018 pricing with excise tax

Hybrids also benefit from the new excise tax law since they only receive half of the taxes levied. The standard Prius 1.8 now has a sticker price of Php 2,205,000 (- Php 217,000) while the smaller Prius C now sells for Php 1,831,000 (Php -119,000).

SUVs such as the Land Cruiser Prado and Land Cruiser 200 also saw a siginificant price decrease for 2018. With the TRAIN law in effect, the diesel-powered 3.0-liter Prado in manual and automatic trim are now cheaper by Php 202,000. Interestingly, the gasoline-powered 4.0-liter V6 model keeps its price from 2017.

With regards to the Land Cruiser 200, a model that saw a bit of a buyer's spree in 2017, the entry-level model now retails for Php 4,284,000 which makes it Php 273,000 cheaper than before. Finally, the Premium version now sells for Php 4,650,000, making it Php 350,000 more affordable than the 2017 price.

These prices can be seen at the official website of Toyota Motors Philippines.