{"id":340348,"date":"2018-08-02T15:27:28","date_gmt":"2018-08-02T15:27:28","guid":{"rendered":"https:\/\/www.supercars.net\/blog\/?p=340348"},"modified":"2024-01-17T21:59:14","modified_gmt":"2024-01-17T21:59:14","slug":"millions-of-dollars-of-smuggled-exotica-crushed-in-the-philippines","status":"publish","type":"post","link":"https:\/\/www.supercars.net\/blog\/millions-of-dollars-of-smuggled-exotica-crushed-in-the-philippines\/","title":{"rendered":"VIDEO: Millions of dollars of smuggled exotica crushed in the Philippines"},"content":{"rendered":"

Here at Supercars.net – in case you haven\u2019t noticed – we love supercars.<\/strong><\/p>\n

That\u2019s why this footage of millions of dollars worth of supercars, classic cars and other precious metal is so painful to watch.<\/p>\n

More than 60 luxury and high performance cars and motorbikes were destroyed by Philippine president Rodrigo Duterte as part of an anti-corruption campaign.<\/p>\n

The expensive metal had been smuggled into the country illegally in attempts to evade the country\u2019s tax regime that makes buying and importing high value cars prohibitively expensive.<\/p>\n

Any car costing more than 2.1 million Philippine Piso (around $39,550) is classified as a luxury vehicle, and hit with a PhP 512,000 tax, plus a further levy of 60% on any amount above PhP 2.1 million.<\/p>\n

For something like a base model Porsche 911 Carrera<\/a>, on sale in the US from $91,100, that would push its cost from the PhP 4.8 million price tag up to PhP 8.25 million – or $155,400 at today\u2019s exchange rate.<\/p>\n

\"The
The Philippines tax on luxury cars means vehicles like the Porsche 911 Carrera are significantly more expensive to buy<\/figcaption><\/figure>\n

If you can\u2019t bear to watch the footage then turn away – in the clip cars sentenced to a crumpled end by bulldozer include a Lamborghini Gallardo, a Porsche 911 Carrera S, a Mercedes-Benz S-Class, Nissan 350Z and a Ford Mustang from what we can see.<\/p>\n