Tag

malaysia car prices

New car prices are going up not just in Malaysia, but also in the US, why so?

You are not the only one who think that cars are getting a little bit too expensive. Malaysians have long complained about high car prices due to our lopsided tax structure but actually, this is a question asked by consumers from all over the world.Data from USA’s Edmunds.com show that the average transaction price for a new car has gone up from USD 23,900 in year 2008 to almost USD 39,000 in 2019, the last available pre-pandemic level data.This flies against conventional logic. You would

Hans

Hans

Jan 20, 2021

MAA: Car prices confirmed to increase after December 31, 2020

The Malaysian Automotive Association (MAA) has confirmed that new car prices are set to increase after December 31, 2020.Its president, Datuk Aishah Ahmad has confirmed that the updated Open Market Value (OMV) calculations will bump car prices up, between 0-20%, depending on model.She told reporters, “Any increase in OTR prices would be fully absorbed or exempted by the MoF for this year and the difference in duties for past years will also be exempted.”She also said that the increas

Eric

Eric

Jan 22, 2020

No further increase in 2021 car prices, government cancels plan to revise OMV

Malaysia Automotive Association (MAA) has confirmed that the earlier announced plan by the (previous) government to revise existing Open Market Value (OMV) calculations for new cars, which could raise new car prices by up to 20 percent, has been shelved for good.Car buyers, dealers and manufacturers can now take a breather, as there won’t be any increase in new car prices for 2021, apart from re-instatement of 10 percent Sales tax starting 1-Jan 2021, which has always been the plan anyway

Hans

Hans

Dec 28, 2020

Ringgit forecasted to weaken further in 2020, higher car prices ahead?

2019 hasn’t been a good year for the Malaysian Ringgit as it is now among the poorest performing currencies in the Asian region. The Ringgit is currently trading at around RM4.15 to 1 US Dollar. Five years ago, it was trading around RM 3.20 for most of 2014, before depreciating rapidly towards the end of 2015, and it has never recovered since.Forecasts by Fitch Solutions Macro Research group say that the Ringgit is expected to weaken further to RM4.25 to 1 US Dollar in 2020, before rebound

Hans

Hans

Dec 20, 2019

No 10% drop in car prices despite 10% Sales Tax exemption, here’s why

As you already know, the government has announced that all new locally-assembled (CKD) passenger cars will be exempted from paying the 10 percent sales tax starting 15-June until 31-December. Imported new cars will be given a 50 percent discount on sales tax, meaning that sales tax is still applicable, but at a lower 5 percent rate.However, this doesn’t mean that the prices of new CKD cars will drop by 10 percent.Most cars only saw a reduction of between 3 to 6 percent. Why is that so?The

Hans

Hans

Jun 17, 2020

Car prices to go up by 15 to 25 percent after Chinese New Year.

Earlier this week, The Star published an article “Locally assembled cars may cost more.” The article claims that prices of locally-assembled (CKD) cars will cost more due to potential restructuring in tax structures.Yes, the claim mentioned by the English daily is true. WapCar’s own sources within the automotive industry have also confirmed the claim.The reason behind the increase in prices is due to two factors: Withdrawal of EEV incentives and changes in Open Market

Hans

Hans

Jan 15, 2020

How much will car prices go up after 31-Dec 2020 – SST returns, don’t forget new OMV

Despite Covid-19, the Malaysian car industry is expected to end 2020 on a reasonably OK note thanks to the temporary suspension/discount on sales tax. After 31-December 2020 however, the 10 percent sales tax will return and this time, it will return with a new Open Market Value (OMV) calculation, which could see car prices increasing by up to 20 percent, more on that later.Malaysia’s Total Industry Volume (TIV) – the industry’s lingo for new car sales – is projected to re

Hans

Hans

Dec 21, 2020

Perodua: We were not consulted on excise duty change, still studying impact of increase in car prices

Perodua has confirmed that the Malaysian government has revised the excise duty structure for cars in Malaysia, but added that the impact for Perodua will likely be minimal and the company will try its best to not pass any additional cost to buyers.Speaking at a press conference earlier today, President and CEO Datuk Zainal Abidin Ahmad said, “For Perodua, we have been following all the requirements given by the government, as far as declaration is concerned. At the moment, we are still ev

Hans

Hans

Jan 21, 2020

LGE denies car prices going up, but also said changes (if any) will be gradual – wait…what?

More than a week after The Star reported that prices of locally-assembled cars will be going up, Minister of Finance Lim Guan Eng have finally gave a reply on the matter, but unfortunately it only served to confuse more than inform.Speaking at yesterday's press conference of the Budget 2020: Government Guarantee Schemes for SMEs, Lim was asked by reporters from the mainstream media (no automotive media were present, as it was a non-automotive related event) to comment on the matter, Lim aske

Hans

Hans

Jan 22, 2020

Germany: It would be a mistake for Malaysia to raise prices of locally produced cars

The German government has expressed concerns that a revision in the pricing structure of locally-assembled cars will affect not just the investments made by German car companies operating here in Malaysia, but also Malaysia’s competitiveness against its neighbours.A locally-assembled Mercedes-Benz C-ClassSpeaking at an interview with BFM radio yesterday, the German Ambassador to Malaysia His Excellency Nikolaus Graf Lambsdorff told BFM:“German car companies have invested in Malaysia

Hans

Hans

Jan 31, 2020

BMW Malaysia revises prices, up to RM 31,000 cheaper.

BMW Malaysia, the distributor of BMW vehicles in Malaysia has released updated prices for its models starting 15 June 2020. One can expect to save at least RM 7,005 when buying a brand-new BMW, like in the case of the BMW 320i Sport.Bigger savings can be had with models like the the 740Le xDrive (RM 29,747.13 cheaper) and the 840i Gran Coupe M Sport (RM 31,388.77 cheaper).These prices are for personal registration exclusing insurance. For more information, head on to bmw.com.my or

Jason

Jason

Jun 12, 2020

Prices of imported (CBU) cars in Malaysia to increase by June 2020, gap between CBU/CKD to reduce

Following our earlier report that prices of new cars in Malaysia, especially locally assembled ones, will go up in prices after Chinese New Year, we now have additional information confirming that prices of imported cars will also increase, also due to changes in taxation.Come June 2020, prices of imported (CBU) vehicles will also see an increase, although the quantum of increase will be a lot lesser than those of locally-assembled models, which are projected to go up by around 15

Hans

Hans

Jan 16, 2020

New 2020 Toyota Hilux prices confirmed for Malaysia, from RM 92k!

Thai-spec model pictured.With the launch of the facelifted 2020 Toyota Hilux to take place soon, UMW Toyota Motor Sdn Bhd has announced the confirmed prices of the new range.Five variants are on offer, with prices starting from RM 92,880 for the Hilux 2.4 MT Single Cab and RM 111,880 for the Hilux 2.4G MT Double Cab.For the rest of the variants, check out the table below: 2020 Toyota Hilux Prices (AT only, RM) Region 2.4E AT Double Cab 2.4V AT Double Cab 2.8 Rogue AT Pe

Sanjay

Sanjay

Sep 24, 2020

Volvo Car Malaysia slashes prices by up to RM 17,968 for all CKD models!

Following Prime Minister Tan Sri Muhyiddin Yasin’s announcement last week with regard to the Short-Term Economic Recovery plan, Volvo Car Malaysia today released its new price list for all Volvo CKD (Completely Knocked Down) models to exclude sales tax, effective 15 June to 31 December 2020. Nalin Jain, Managing Director of Volvo Car Malaysia, said: “We fully welcome the introduction of the sales tax holiday and are grateful for the opportunity to pass on the full benefits to ou

Brian

Brian

Jun 12, 2020

MINI Malaysia minimizes prices by up to RM 14k

In light of Prime Minister Tan Sri Muhyiddin Yasin’s announcement last week, BMW Group Malaysia has released its new pricelist for both CKD and CBU models.The model that sees the most significant price cut, at RM 13,997.17, is the 306 PS MINI JCW Countryman. We’ve driven it at the track and its engine is stonking.The MINI Countryman Plug-in Hybrid is not included in the price list, which could suggest that it has been discontinued or it could be in limbo pending more clarity on

Shaun

Shaun

Jun 12, 2020

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) model

Shaun

Shaun

Feb 28, 2020

2021 MG EP budget electric car revealed in Thailand, prices to be announced on 1-Dec

An affordable electric car is set to launch in Thailand this December. Revealed today, the MG EP electric station wagon aims to be the benchmark for electric cars in Thailand with the following key elements: Dimension Comfort and safety Powerful performance Low cost of ownershipWhile most electric cars have always seemed inaccessible to the masses, the MG EP aims to change this. Making an affordable electric car available in Thailand in well in-line with the Thai government’s 2030 electrif

Arif

Arif

Nov 26, 2020

Mercedes-Benz Malaysia won’t follow BMW’s move to cut warranty for lower prices

Mercedes-Benz Malaysia (MBM) will maintain its current 4-year / unlimited mileage warranty, and will not follow archrival BMW Group Malaysia’s move to make extended warranty optional.Speaking at a virtual meeting with the media earlier last week, Dr. Claus Weidner, President & CEO of Mercedes-Benz Malaysia explained that MBM’s direction is to offer the best customer service and the best customer offers, and the company is not interested in tinkering around with its terms of servi

Hans

Hans

Feb 22, 2021

Proton to slash prices from 1.2% - 5.7% for all models

Following the government’s recent announcement of zero sales tax for cars sold in Malaysia for a six month period beginning 15 June 2020, Proton will reduce its car prices by 1.2% - 5.7%. These prices will be effective for the duration of the incentive period, a measure designed to boost the economy as the country emerges from its COVID-19 induced lockdown. The Proton X70 Premium X variant sees the most significant reduction of 5.7%, which is about RM 7,000 less than the price with SS

Brian

Brian

Jun 15, 2020

Estimated prices for Malaysia-specs G30 BMW 5 Series LCI (facelift), up by RM 9k - 24k

Thai-spec car picturedA couple of days ago we shared with you the imminent arrival of the facelifted (LCI) G30-generation 2021 BMW 5 Series in Malaysia. Related to that, weve got word that buyers can expect a price hike too.Sources familiar with the matter shared with WapCar.my that buyers can expect a price increase of around RM 10k for the 530e M Sport, and roughly RM 24k for the 530i M Sport: G30 BMW 5 Series LCI estimated prices Variant 530e M Sport 530i M Sport Price

Sanjay

Sanjay

Mar 24, 2021

Perodua Prices Updated: Cheaper by 3% and 6%

Perodua will reduce its model prices (on-the-road excluding insurance) by between 3% and 6% via cash rebates until 14 June 2020, after which it will incorporate the new sales tax-free prices throughout the tax reduction period as recently announced by the Prime Minister.“Despite the tax reduction only becoming effective 15 June 2020, Perodua will offer cash rebates between 3% and 6% for the purchase of our vehicles beginning today,” Perodua President and Chief Executive Officer, Dato

Jason

Jason

Jun 10, 2020

Think the Toyota RAV4 is expensive? Brace yourself for higher prices of new cars

This week’s biggest trending news is without a doubt, the shocking price of the all-new Toyota RAV4. With an estimated price of RM 203,880 for the 2.0L variant and RM 223,880 for the 2.5L variant (temporarily discounted to RM 196,436 and RM 215,665 respectively), you have to be a huge fan of the RAV4 to put money on one.The Toyota RAV4 is meant to be Toyota’s answer to the Honda CR-V and Mazda CX-5.In Malaysia however, things have taken a slightly different twist. At its current pric

Hans

Hans

Jun 13, 2020

17 – 23 August 2019 Fuel Price Update: Prices Remain Unchanged

The Ministry of Finance (MoF) Malaysia has announced the latest fuel prices for 17th to 23rd August 2019. Effective tomorrow, these are the prices: RON 95 - RM 2.08 per litre (unchanged) RON 97 – RM 2.49 per litre (unchanged) Euro2M Diesel – RM 2.18 per litre (unchanged) Euro 5 Diesel – RM 2.28 per litre (unchanged)The price of RON 97 fuel is adjusted weekly, while prices of RON 95 petrol, Euro 2M diesel, and Euro 5 diesel are capped at their respective prices. 

Jack

Jack

Aug 16, 2019

BMW Z4, prices confirmed for Malaysia, RM 479,800

Following its earlier preview, BMW Malaysia has now confirmed that the Z4 is now available for purchase at all BMW dealerships nationwide, with a starting price of RM 479,800. That’s slightly higher than the previous estimated price of RM 456,800.Available in just a one sDrive30i variant, the 2.0-litre turbocharged inline four-cylinder engine Z4 produces 258 hp/400 Nm. Drive is sent to the rear wheels via an 8-speed torque converter automatic transmission. The chassis comes with M Sport Su

Robert

Robert

Jul 23, 2019

2021 Rolls Royce Ghost launched in Malaysia, with prices only the poor will be bothered to ask

The second-generation 2021 Rolls-Royce Ghost is now officially on sale in Malaysia. The car is available in 2 wheelbase options, the standard-wheelbase model starts at RM 1.45 million while the extended-wheelbase will start at RM 1.65 million. Keep in mind that the prices stated are before taxes and optional extras. RR allows customers to customise their Ghosts to their fancy with Rolls-Royce Bespoke. Although the Ghost is still easily recognisable with its trademark Rolls-Royce design language,

Jerrica

Jerrica

Mar 30, 2021

Global shortage of semiconductor chips for cars will drive prices up

Car manufacturers are bracing for an increase in manufacturing cost for at least the next 6 months as chronic shortage in semiconductor chips for cars drive up prices.The matter is serious enough that manufacturers from USA, European Union, Japan have reportedly escalated the matter to their respective countries’ diplomatic channels to secure for more supply from Taiwan, according a report from Reuters.Taiwan is one of the world’s biggest supplier of semiconductors and the global sho

Hans

Hans

Jan 26, 2021

Share prices of auto stocks accelerates due to tax slash

Following the announcement of a tax waiver for locally-assembled vehicles, auto stocks are revving hotter as the market anticipates higher demand.As reported by The Edge, Bermaz Auto Bhd’s share price rose by 8.11% or 12 sen at RM1.60 where some 4.1 million shares transacted. Tan Chong Motor Holdings Bhd, involved in assembly and marketing of motor vehicles and manufacturing of auto parts, had its share price increased 2.59% or 3 sen at RM1.19 per share.MBM Resources Bhd with its associate

Mersita

Mersita

Jun 10, 2020

UMW Toyota cuts prices by up to 6%, RAV4 now from RM 196k!

UMW Toyota Motor Sdn Bhd (UMWT), the distributor of Toyota and Lexus vehicles in Malaysia today announced new prices for its vehicles beginning 15 June 2020, following the incentives provided to the Malaysian automotive industry announced by the Prime Minister.“Toyota vehicles are now more affordable than ever. Customers should take this opportunity to upgrade or purchase a new Toyota. All relief from the new tax structure have been factored into the new pricing, considered in the best int

Hans

Hans

Jun 12, 2020

Mitsubishi Motors to slash prices by up to RM 8,154 for the Outlander and ASX

Mitsubishi Motors Malaysia (MMM), announced a new price list for the Mitsubishi ASX Compact SUV and Outlander SUV in Malaysia. The new prices are effective immediately until 31 December 2020.The price reduction is in view of the Malaysian government’s announcement to drop Sales and Service tax (SST) for cars, which sees a 100% sales tax exemption on locally-assembled (CKD) models. Prices above are quoted on-the-road without insurance for private registration in Peninsular and East Mal

Brian

Brian

Jun 15, 2020

28 March - 3 April 2020 fuel prices update: All down

The downward trend of fuel prices continues, though the change for the upcoming week is not as drastic as last week's.Starting tomorrow, from 28 March 2020 to 3 April 2020, the fuel prices are: RON 95 - RM 1.38/litre (-RM 0.06) RON 97 - RM 1.68/litre (-RM 0.06) Euro 2M Diesel - RM 1.68/litre (-RM 0.07) Euro 5 Diesel - RM 1.78/litre (-RM 0.07)

Shaun

Shaun

Mar 27, 2020