Estimated New Price Of Your Favorite Cars Due To Proposed Excise Tax

Estimated New Price Of Your Favorite Cars Due To Proposed Excise Tax

Here are the estimated new price of your favorite car brands and units due to proposed excise tax, which can largely affect the prices of cars.

The current tax for vehicles in the Philippines is only 2 percent but now it has climbed up to 5 percent, which can largely affect the current price of cars. The proposed hike on car taxes would hurt middle and upper-income earners.

Lawmakers created the proposed excise tax for the addition road infrastructures and to lessen the number of vehicles in the street, which causes traffic problems. They also said that the additional tax will go to low-income earners and tax exemption for senior citizens.

Estimated New Price

Here is the expected new price of car brand units.

Hyundai Eon GLX M will jump to P528, 320 from its original price of P508, 000. Mitsubishi Mirage G4 GLX AT will rise from P680, 000 up to P736, 000. Toyota Vios 1.5 G AT, which has a current price of P902, 000 will climb to PP1, 046, 800.

Nissan Joke 1.6 AT is now P1, 156, 000 from P980, 000, Honda Civic RS Turbo AT will become P1, 930, 00 from P1, 403, 000., and Toyota Innova 2.8 E AT will have a new price of P1, 568, 000 from P1, 222, 000 and Mazda CX-5 2.0 2WD will jump from P1, 345, 000 to P1, 814, 000.

Isuzu D-Max 4×2 LS MT will jump to P1, 504, 000 from P1, 190, 000. Toyota Hiace 3.0 Grandia GL AT has an original price of P1, 725, 000 to P2, 574 and Ford Everest Titanium 2.2 4×2 will rise from P1, 739, 000 to P2, 602, 000.

Toyota Fortuner 2.8 V 4WD has a current price of P2, 126, 000 is now P3, 398, 000 and BMW x5 30d will climb to P10, 170, 000 from P6, 590, 000. Car brands such as Porsche, Maserati, Jaguar, etc. is now playing around P10M, but it will climb up to more than P7M. While Ferrari, Lamborghini, and other famous car brands will increase to P57, 020, 000 from P20M.

Estimated New Price
Photo Courtesy of Philstar

These the new expected car prices if the proposed excise tax was already implemented.

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