I did some research regarding jpepa and it seems tariff rates on vehicles with engines displacement of 3 liters and above will go down from the present 30% to 0% effective 2010. Tariff rates for vehicles with less than 3 liter engine displacement will go down from 20% to 0%

But it also states that the Philippine government can re-negotiate to defer 0% tariff for vehicles with 3 liter or more engine displacement.

If the Philippine government does not re-negotiate, it seems there will be a reduction on car prices.

This applies to vehicles originating from Japan.