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The rise of electric cars in the Philippines has been evident in recent years as more individuals and businesses are becoming aware of the environmental benefits and cost savings that come with owning one. However, with the various electric car models and brands available in the market, it can be overwhelming to decide which one to purchase. One of the primary factors to consider is the price. This blog explores the prices of electric cars in the Philippines and having a better understanding of the different factors to consider before making a decision to purchase an electric car in the Philippines.
Table of contents
- Price Comparison of Electric Cars in the Philippines
- Cost Savings of Electric Cars
- Government Incentives and Rebates for Electric Cars
- Factors Affecting the Price of Electric Cars in the Philippines
Price Comparison of Electric Cars in the Philippines
|Nissan Kicks e-Power||₱1.239 – 1.539 Million|
|Nissan Leaf||₱2.798 Million|
|VM Motor W5||₱2.54 Million|
|Hyundai Ioniq 5||₱3.068 – 3.698 Million|
|BMW iX||₱6.29 Million|
|Jaguar I-Pace||₱7.99 Million|
|BYD E6||₱4.2 Million|
|BMW iX3||₱4.59 Million|
Cost Savings of Electric Cars
Lower Fuel Costs
Electric cars run on electricity, which is cheaper than gasoline. The cost of electricity varies depending on where you live, but it is generally much lower than the cost of gasoline. According to a study by the Department of Energy, the cost of charging an electric car is about 50% less than the cost of fueling a gasoline car. This means that you can save a significant amount of money on fuel costs over the lifetime of your electric car.
Lower Maintenance Costs
Electric cars have fewer moving parts than gasoline cars, which means that they require less maintenance. There is no need for oil changes or spark plug replacements, which can save you thousands in maintenance costs. Additionally, electric cars have regenerative braking systems that can help extend the life of your brake pads.
Electric cars have a higher resale value than gasoline cars. This is because electric cars have a longer lifespan and are less prone to wear and tear. Additionally, the demand for electric cars is increasing, which means that their resale value is likely to increase in the future.
Government Incentives and Rebates for Electric Cars
The Philippine government is taking steps to promote the use of electric cars as a more environmentally-friendly and sustainable mode of transportation.
Excise Tax Discount
Electric cars are eligible for a 50% discount on the excise tax, which is imposed on all new vehicles sold in the Philippines. This discount applies to both fully electric and hybrid electric cars.
Priority in Registration and Issuance of Plate Numbers
Electric cars are given priority in the registration and issuance of plate numbers. This means that electric car owners can avoid the long wait times that are typically associated with registering a new vehicle in the Philippines.
Priority in Charging Stations
The government is also working to install more charging stations for electric cars throughout the country. Electric car owners are given priority in using these charging stations, which makes it easier and more convenient to charge their vehicles.
Factors Affecting the Price of Electric Cars in the Philippines
One of the main factors that affect the price of electric cars is the battery capacity. Cars with larger batteries tend to have a longer driving range, which is a desirable feature for many consumers. However, larger batteries also tend to be more expensive, which can drive up the overall cost of the vehicle.
Model and Brand
The make and model of an electric car can also have a significant impact on its price. Some brands and models may be more expensive due to their reputation, features, or technology.
Electric cars can be charged using different technologies, such as Level 1, Level 2, and DC fast charging. Cars that support faster charging times tend to be more expensive due to the advanced technology required.
Features and Options
Electric cars may come with a variety of features and options, such as navigation systems, advanced safety features, and premium sound systems.
Availability and Demand
The availability and demand for electric cars in the Philippines can also affect their price. Cars that are in high demand may be priced higher due to limited availability, while those that are less popular may be priced lower to attract buyers.
If you are planning to buy an electric car in the Philippines, there are several important factors to consider when comparing prices. It is essential to do some research on the available electric car models and compare their features and specifications to determine which ones meet your needs. Check the battery range of each model, as this will impact the car’s usability and convenience. Reading reviews and feedback from other electric car owners can also provide valuable insights into the pros and cons of each model.
Additionally, it is important to compare the prices of the electric cars you are interested in, and factor in additional costs such as maintenance, insurance, and charging infrastructure.The initial cost of an electric car in the Philippines may be higher than a traditional gasoline-powered car, the long-term savings in fuel costs and environmental impact may make it a worthwhile investment. –WhatALife!/Jayve
Also read: Finding Affordable Electric Cars in the Philippines
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