A weak ringgit will raise the price of a new car, raise the price of raw materials

According to the Malaysian Automotive Association (MAA), new car prices in Malaysia may rise due to rising raw material prices, following the weakening ringgit, as well as the long-standing problem of chip shortages.

Datuk Ayesha Ahmad, president of the MAA, said the costs that car manufacturers had to bear meant that new cars were likely to go up in price. However he acknowledged that their numbers were not enough to defeat Carroll’s. Daily news.

Ayesha also hoped that the government would respond to the association’s request to extend the tax exemption, which was due to end on June 30. “If the SST discount, which expires at the end of June, is not continued, it could worsen the situation, and it could see a high price increase if manufacturers decide to increase the price of their products,” he told the publication.

Lack of semiconductor chips also hurts local production. In March, the association once said it would take a long time before local production and supply returned to normal. Vehicle manufacturers have also reported problems with the amount of production due to lack of equipment / materials.

Earlier today, Honda Malaysia further stated that the delay in procurement of spare parts / parts for the production of new vehicles was creating inconsistent production volumes at their plant in Melaka and would affect the supply of vehicles to customers who want to get them earlier. SST exemption expires.

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