Booking a Honda after 30-June? Expect a 5 percent increase in prices post-SST
Arvind · Jun 27, 2022 11:18 AM
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With the current SST exemption for locally-assembled (CKD) passenger cars ending on the 30-June 2022, checks with Honda dealers have revealed that new car prices are expected to increase by up to 5 percent, post-SST.
However, sources familiar with the matter say that SST resumption is not the sole cause of increase in prices, as increases in material and logistics costs are also a factor.
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In Peninsular Malaysia, Honda dealers say the SST resumption will cause an estimated increase of between 1.8 to 5.3 percent, inclusive of additional material and logistics costs, depending on model.
In East Malaysia, material and logistic costs are expected to have a more significant impact on prices, adding a further 1.8 to 6.6 percent to the sticker price after SST is resumed.
As you probably know by now, the Ministry of Finance (MoF) has announced an extension of the grace period for car buyers to register their cars to 31-March-2023, applicable only to those who have booked their cars before 30-June 2022.
Whilst these are just estimates, for now, we can expect the finalised pricing of Honda models and many other manufacturers starting 1-July 2022.
Arvind can't remember a time when he didn't wheel around a HotWheels car. This love evolved into an interest in Tamiya and RC cars and finally the real deal 1:1 scale stuff. Passion finally lead to formal training in Mechanical Engineering. Instead of the bigger picture, he obsesses with the final drive ratio and spring rates of cars and spends the weekends wondering why a Perodua Myvi is so fast.
