Like PNoy's Dengvaxia :))

Yes but most pickups (60%) are actually sold outside the metro areas and are used to haul all sorts of things in the provinces, including furniture and humans hitching a ride.

Visit the areas that are known as pickup countries to see for yourself: Mindanao (Cagayan de Oro, Iligan, Bukidnon, Pagadian, Agusan, Davao Region, Zamboanga, Negros), Bicol, Central and Northern Luzon, etc

it has become a dual purpose vehicle....agri use and recreational use..even 4x4s TOTL units are used as workhorses in the province...ours included. we use it sa farm to haul stuff...we just also want good interiors and 4x4 kaya we get TOTLs units

i do not understand it also, it is certainly not the srp for customers. i am just guessing manufacturer's cost price? or cfr manila price before taxes and all? i maybe wrong.

the description on the dof website is net manufacturing / importation price.

that is my guess also.

the cheapest cars will see an increase.

the 1 million up to 2 million prices may see a small reduction or minimal inc depending on which tax brackets it falls.

the 2 million up srp vehicles will definitely see reductions. those in the range of 3-5 m should see maybe guesstimate 100-300k reduction.

lets wait for the auto websites to come up with the projected price changes.

now whether we see actual reduction on jan 1 is another thing because manufacturers may claim those are existing inventories paid at the old tax regime.
the most

To be specific, it is the Senate version that pushed for the drop of the tax on the higher priced vehicles and put the burden on the mass-market lower-price vehicles since the House of Representatives version increased excise tax of all vehicles across the board without favor.

hybrids will still not sell because prices may not go up after all unless there are last minute changes.

and current hybrids are priced not to move at all.

There are no full EVs officially in the country today. The Teslas that are here are technically grey market ones and are purchased abroad only paying import duties and tariffs here. This is likely to change starting next year as Nissan is gearing up to launch some of their EVs here to regain some market share it held decades ago.

Hopefully this will be the case.

That's not how excise taxes work. It works like tax brackets and a 4M net manufaturer's price vehicle now would have an SRP of 8M.

This is effectively a blanket decrease in taxes for all expensive cars.

Currently the tax of a 4M and above Net Manufacturer's Price car is 1,652,000 + 60% of value above 4M.

Under the new rules the tax would drop to 676,000 + 50% of value above 4M.

This is the current excise tax structure:

Net Manufacturer’s / Importer’s Selling Price Current Excise Tax Structure

Up to 600,000 2%

Over 600,000 to 1.1 Million 12,000 + 20% in excess of 600,000

Over 1.1 Million to 2.1 Million 112,000 + 40% in excess of 1.1 Million

Over 2.1 Million 512,000 + 60% in excess of 2.1 Million

compare the above existing to the approved excise tax package for 2018

P 600,000 and below – P 4 percent
Above P 600,000 to P 1,000,000 – 10 percent
Above P 1,000,000 to P 4,000,000 – P 20 percent
Above P 4,000,000 – 50 percent

Definitely agree. I, for one, don't believe this sh*t wherein the bigger problem lies on how is this money spent upon!

Domino effect, gas price goes up, expenses by businesses goes up, commodities goes up, cost-cutting by these companies goes up too hence limiting job openings and/or wide lay-offs.

Yes they are required to publish it. If the president signs it into law today and the BIR moves quickly to publish the guidelines by tomorrow it can make it barely by January 1. Having said that there’s still no word if the president will accept TRAIN as it is.

The final version exempts pickup trucks, it remains to be seen if they will make a distinction between single/double cab and workhorse/lifestyle pickups.