For consumers eyeing a new pickup truck, swift action is advised as higher taxes are being re-imposed on the segment. The Capital Market Efficiency Promotion Act (CMEPA), Republic Act No. 12214, which took effect on July 1, has amended the National Internal Revenue Code. This change removes pickup trucks from the list of vehicles exempt from excise tax, which can reach up to 50 percent depending on the net selling price.
Under the previous administration’s Tax Reform for Acceleration and Inclusion (TRAIN) Law, signed in 2018, pickup trucks enjoyed tax exemption due to their perceived crucial role in facilitating small businesses’ transport of goods. However, the current Department of Finance spearheaded the reintroduction of the excise tax, positing that most pickup buyers now use these vehicles primarily for personal mobility and lifestyle purposes rather than for transporting goods.
While some manufacturers have already announced price increases ranging from PHP 100,000 to PHP 280,000, several brands are holding onto their former prices until current stocks are depleted.
Among these is Great Wall Motor (GWM), led by Ruben Tan. During a recent GWM Track Day for “The New Cannon Experience” at the R33 Drift Track in San Simon, Pampanga, Tan confirmed that GWM is maintaining the prices of its Cannon models. The Cannon LUX 4×4 9AT remains at PHP 1,348,000, and the Cannon SLUX 4×4 9AT at PHP 1,498,000, attributed to existing inventory. Remarkably, GWM is also offering a 7-year or 200,000-kilometer bumper-to-bumper warranty.
Attendees at the GWM Track Day witnessed the Cannon pickup trucks undergo rigorous testing under the guidance of Georges Ramirez and his team. The vehicle’s performance and advanced technologies garnered significant praise. A notable feature demonstrated was its seamless ADAS features, one of the most fluid and least intrusive in the market today for any vehicle, plus its ability to take sharp turns without losing stability under extremely heavy braking —a maneuver traditionally advised against. Dax Avenido, GWM’s new brand head and marketing director, expressed pride in the GWM Cannon’s impressive performance and overall design. At its current pricing, the GWM Cannon is considered a highly competitive option in the market.
