If you want to get a new car (Honda, Toyota, Proton or Myvi) you should wait another few years as car price will reduce 20% to 30% by 2017.
Malaysia International Trade and Industry Minister Datuk Seri Mustapa Mohamed finally revealed the government’s new National Automotive Policy (NAP) 2014 recently.
Objectives of New Automotive Policy (NAP 2014)
- To be regional automotive hub in energy-efficient vehicles.
- To promote and increase sustainable value-added activities.
- To promote and increase exports of vehicles and auto components.
- To promote participation of Bumiputera companies in the industry.
- To offer safer and better quality vehicles at competitive prices.
How NAP 2014 affects you?
- Reduction in car prices will be gradual – by 2017.
- More job opportunities in the automotive industry for Malaysians.
- Local car prices will be more competitive.
- Cars imported from Japan will be much cheaper (0% excise duty) by 2016.
- Prices for imported hybrid cars and EEVs will be much higher this year.
- Local hybrid and EEVs will be available as a cheaper option to imported vehicles.
sources: imoney.my