Tax laws won't affect prices of Nissan's most extreme model
Nissan has just been doing the rounds in promoting their new halo model. It's the most extreme version of the Nissan GT-R: the 2020 GT-R NISMO.
Tuned to the standards befitting the NISMO (Nissan Motorsport) name, this special breed of GT-R performs like it really belongs on the racetrack or on de-restricted (read: no speed limit) roads. The new model sports many upgrades over the previous model such as an enhanced aero kit with vents on the front fenders to boost downforce, lighter 20-inch wheels from RAYS and a revised interior with Recaro seats among others.
But the biggest improvement is in the performance as the GT-R NISMO has some upgrades from their GT3 race cars such as improved turbochargers for the twin turbo 3.8-liter V6 and a better 6-speed DCT gearbox. It still makes 600 PS, but Nissan says the response has been significantly improved.
The designated Philippine dealer for the GT-R, the Nissan High Performance Center (AKA: Nissan Quezon Avenue in Quezon City), is already accepting orders for the 2020 GT-R NISMO, but a question remains unanswered: how much is it going to be for the Philippines?
We begin with the pricing of the previous GT-R NISMO that was launched in the country. It retailed for PhP 13.2 million, and the NHPC sold three of these.
Some would try to extrapolate the local pricing using the North American pricing scheme. In that market, the 2020 GT-R NISMO will retail for USD 212,435; a USD 36,945 increase (+21%) over the 2018 model that retailed for USD 175,490. This is the first time that a GT-R has surpassed the USD 200,000 mark.
If we were to estimate the Philippine retail price and using a 21% increase, the price we would get for Nissan's unicorn would be at PhP 15,972,000. A cool PhP 16 million pesos (about USD 312,000) puts it in the realm of the pricing of an Aston Martin or a Porsche 911 Turbo, thereabouts.
But when we contacted someone from Nissan regarding the potential pricing we were told that the 2020 GT-R NISMO won't reach that price. Only then did we realize that there are tax laws that would affect the pricing... in our favor.
For one, our tax law (TRAIN) isn't as rough on excise taxes on expensive vehicles in terms of overall price increases. In fact, when the TRAIN law came into effect, luxury cars that were originally priced around PhP 2.5 million or higher became somewhat more affordable.
There is also another, and it's known as JPEPA or the Japan Philippines Economic Partnership Agreement. JPEPA is very friendly towards big displacement vehicles (3.0-liters or larger), making importing the 3.8-liter GT-R and GT-R NISMO rather favorable.
According to our contact, thanks to TRAIN and JPEPA, we can expect the pricing of the 2020 GT-R NISMO to not be very far off from the current model at PhP 13.2 million. In fact, we're not expecting that big of a difference, if at all.