KATHMANDU: Several automobile brands have revised their vehicle prices after the government introduced the budget for the fiscal year 2026/27. While some EV models have received price cuts due to changes in taxation, several brands have increased prices citing higher tax impact.
The new budget has shifted the vehicle tax structure from motor power-based taxation to a system linked with vehicle price. The change has created different impacts across EV segments.
Lower-priced EVs, especially those below Rs 2 million, have gained some benefit as taxation has reduced. Some higher-powered EVs above 100 kW have also received tax relief under the new structure.
Leapmotor was among the first brands to announce a price reduction. The company reduced the price of its Leapmotor B10 by Rs 500,000.
Skywell has also reduced the price of its electric SUV by up to Rs 1.5 million. Meanwhile, Suzuki reduced the price of the Suzuki e Vitara by Rs 100,000, while higher variants have received a price cut of up to Rs 500,000.
Other brands have increased prices following the new tax structure. MG Motor’s Nepal distributor increased the price of the MG S5 EV Luxury variant by Rs 100,000. The price of the MG S6 EV has increased by Rs 200,000.
Geely has increased the price of its Geely EX5 by Rs 300,000 across variants.
Similarly, Jaecoo and iCAUR have also revised prices. The price of the Jaecoo J6 increased by Rs 100,000, while the iCAUR V23 became Rs 300,000 more expensive.
Deepal increased the price of the Deepal S05 by up to Rs 400,000. The S05 Plus received a Rs 400,000 price hike, while the Max variant increased by Rs 300,000.
The biggest impact was seen on the BMW iX1, which received a price increase of Rs 13 million. Meanwhile, prices of Mahindra & Mahindra EV models have not been revised yet.
Brands including Hyundai Motor Company, BYD, Tata Motors and Nammi have not announced new prices after the budget.
