![Prices of Toyota Innova, Hilux, Fortuner increase up to RM 13k, the return of SST 01]()
UMW Toyota Motor (UMWT) has released updated prices of three of its models, the Toyota Innova, Toyota Fortuner, and Toyota Hilux which are effective from 1-March 2022. Curiously, the price list is marked as 'Estimated' but checks with dealers reveal that the prices are inclusive of SST.
![Prices of Toyota Innova, Hilux, Fortuner increase up to RM 13k, the return of SST 02]()
Despite less than four months remaining for Malaysians to take advantage of the Sales Tax (SST) exemption for new cars, expect carmakers and distributors to update new prices to include SST in the coming months. Due to the positive response in sales, some customers might only receive their cars after 30-June 2022 which is when the SST exemption/discount period ends.
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![Prices of Toyota Innova, Hilux, Fortuner increase up to RM 13k, the return of SST 01]()
| 2022 Toyota price update (Effective 1-Mar 2022) |
| Variant |
Price (excluding SST) |
Price (including SST) |
| Innova |
| 2.0 G |
RM 125,232 |
RM 133,880 |
| 2.0 X |
RM 133,355 |
RM 141,880 |
| Fortuner |
| 2.4 AT |
RM 169,167 |
RM 179,880 |
| 2.7 SRZ |
RM 176,369 |
RM 186,880 |
| 2.8 VRZ |
RM 207,553 |
RM 220,880 |
Prices of the Toyota Innova increased by around RM 8,000 while the Fortuner saw a price bump of between RM 10,500 to RM 13,300.
| 2022 Toyota Hilux price update (Effective 1-Mar 2022) |
| Variant |
Before |
Current |
| 2.4 Single Cab |
RM 92,880 |
RM 95,880 |
| 2.4 E |
RM 108,880 |
RM 111,880 |
| 2.4 V |
RM 133,880 |
RM 136,880 |
| 2.8 Rogue |
RM 146,880 |
RM 149,880 |
Meanwhile, the Toyota Hilux, which being a commercial vehicle, was not included under the SST exemption for locally-assembled passenger cars also saw prices increase by up to RM 3,000. We suspect that a weak Ringgit may have something to do with it.
Also read: Weak Ringgit to push up new car prices in Malaysia, regardless if it’s CKD or CBU
![Prices of Toyota Innova, Hilux, Fortuner increase up to RM 13k, the return of SST 02]()
As the IMV platform trio are locally assembled at the Assembly Services Sdn. Bhd. (ASSB) plant in Shah Alam, they were entitled to the full (100%) SST exemption until 30-June 2022, with the exception of the Hilux.
Also read: Budget 2022: MoF confirms extension of SST exemption/discount until June 2022
![Prices of Toyota Innova, Hilux, Fortuner increase up to RM 13k, the return of SST 03]()
The SST exemption was meant to boost the slowing local automotive industry. As a result, the industry saw an increase in sales and interest from buyers but that period might be ending as the Ministry of Finance (MoF) has not yet announced any plans of extending the sales tax break.
Also read: MoF: Only 4 months left to take advantage of car sales tax exemption
![Prices of Toyota Innova, Hilux, Fortuner increase up to RM 13k, the return of SST 04]()
UMW Toyota (UMWT) has a very good start to 2022 with 7,528 units sold in January, a 96% increase compared to the same month in 2021. It also ended 2021 on a high as Toyota relinquished the title of Malaysia’s No.1 selling non-national car brand from Honda. With prices slowly creeping up with the return of SST, can Toyota keep its momentum?
Also read: After reclaiming No.1 title from Honda, UMW Toyota looks to hybrids and EVs for next phase of growth
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