No price hike for Perodua cars despite weak Ringgit, at least for 2022

Perodua has once again affirmed that they will not be increasing the prices of their cars, at least for 2022.

During a press conference at the Perodua Ativa Hybrid handover ceremony, Perodua CEO Datuk Seri Zainal Abidin Ahmad once again confirms that there will be no price increase for the rest of the year despite the weak Ringgit and the rising price of raw materials like steel.

“For this year, we will not be increasing the prices. Particularly for those who booked their cars under the Penjana sales and service tax exemption skim,” he said.

This is in part due to the high local content on Perodua cars. Barring the Perodua Ativa Hybrid, all other Perodua cars boasts 95 percent local content. So, Perodua is not badly affected by the impact of the poor forex exchange.

Also read: 2022 Perodua Ativa Hybrid in Malaysia: Leasing only, 40% better fuel consumption than regular car!

“Because of the high local content, the impact of the currency will not leave a major effect on our bottom line and selling price. Based on the current currency exchange, I believe we are still able to manage the effects although the Ringgit has fallen to its lowest against the US Dollar.

“Our imported parts only make up five percent of the local cost, so the effects of the currency are only less than one or two percent,” he continued.

Also read: Don't hold your breath for a CKD Perodua Ativa Hybrid

However, Datuk Seri Zainal Abidin is quick to point out that things might change come 2023.

“We have to study how huge is the impact of the material price increase and how shall we share the burden within the total eco-system.”

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