Prices for locally assembled Toyota models will maintain, for now

UMW Toyota Motor has announced that prices for locally assembled (CKD) models will not be increased at this time. The CKD models include Yaris, Vios, Rush, Hilux, Fortuner, Innova and Hiace.

About a month ago, the Ministry of Finance said that any increase in prices as a result of the new method of Open Market Value (OMV) calculation will be absorbed by the Finance Ministry until 31st December 2020. However, prices are expected to increase next year.

As for the fully imported (CBU) models, the fate of their prices remains to be seen. Fully imported Toyota models include the Corolla Altis, C-HR, Camry, Harrier, Alphard, Vellfire, and the GR Supra.

Mr. Ravindran Kurusamy, President of UMW Toyota Motor, said, “Factors such as exchange rates and tax revisions can affect prices but as far as possible, the company has always tried to maintain price stability by absorbing the increases as much as we can.”