Nissan LEAF and Weltmeister W5 see price cuts thanks to E.O. 12
The positive effects of the signing of Executive Order No. 12 by President Ferdinand Marcos Jr. are finally upon us starting with the price reduction of available fully-electric vehicles (EV) in our market.
Executive Order No. 12 temporarily reduces import duties on electric vehicles, parts, and components for five (5) years from its date of signing. As such, suggested retail prices of such vehicles in the market would likewise be reduced.
The first brands in our market to take advantage of the reduced import duties are Nissan and Weltmeister which both announced new pricing for their respective EV offerings.
First, the Nissan LEAF, which was one of the first mainstream EVs to be introduced in our market, gets a 30% price reduction. This brings its suggested retail price down to just Php 1,998,000 from Php 2,798,000. This new pricing also took effect last April 21, 2023.
Meanwhile, the Weltmeister W5, brought-in by WM Motor Philippines last year, saw its price drop by Php 300,000 from Php 2,548,000 to now Php 2,248,000.
With more and more fully electric vehicles being launched in our market, hopefully we start seeing more of them on the road especially with them now being more compelling thanks to lower prices. Hopefully, more brands also start lowering the prices of their EV offerings.
