Despite over 20% increase in steel prices, there will be no price hike for Perodua cars in 2022

• Prices of raw materials continue to increase
• Perodua will not be increasing prices of their cars

Last year, we reported that prices of automotive spare parts are could increase as much as 60 percent, as prices of raw materials have gone up quite a bit in 2021.

Perodua’s CEO and President Datuk Zainal Abidin Ahmad has acknowledged this during a press conference earlier today.

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“The challenge for this year is the increase in raw material price. Prices of steel are forecasted to increase by more than 20 percent. During the third and fourth quarter of 2021, we saw an increase of beyond 20 percent. And for the first quarter of this year, we also expect an additional 10 percent increase in price, on top of the 20 percent increase we saw last year.”

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“However, for Perodua, we do not intend to transfer this increase in price to customers. As of now, based on our current plan, our current benchmarking and competitiveness studies, we should be able to absorb any material price increase for now,” he added.

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In addition to maintaining prices of their cars, Perodua is also mulling the idea of lowering prices of their spare parts.

Also Read: Even lower maintenance Perodua - permanent reduction in spare parts prices mulled