UMW Toyota Motor Sdn Bhd (UMWT) welcomes the announcement of the incentives provided to the Malaysian auto industry announced by the Prime Minister today. The incentives are part of the Government’s Short-Term Economic Recovery Plan to offset the impact of the COVID-19 pandemic.
Between 15 June and 31 December 2020, the Government will allow exemption on 10% Sales Tax for the purchase of new vehicles. For locally-assembled (CKD) models, the exemption will be 100% while for imported (CBU) models, it will be 50%.
"The full savings will be passed on to customers and we expect that the reduced prices will help to revitalize the automotive industry,” said Ravindran K., President of UMW Toyota Motor.