The Toyota Prius will be priced at RM139,900 in the Peninsular Malaysia and RM141,500 in Sabah and Sarawak effective today. This is a drop of about RM35,000 in Peninsular Malaysia from the previous price of RM175,000.
That’s how much that remaining half-price excise duty means – RM35,000. Our prices are still higher than Langkawi’s prices as we still have 10% sales tax despite import duties and excise duties being 0% now. Just to recap – when the Budget 2011 was announced, the Malaysian government lowered the duties for hybrid vehicles below 2,000cc of displacement to 0% for both excise and import duty. Previously, the government gave 100% exemption of import duty but only 50% exemption for excise duty.
It looks like our estimation of the new Toyota Prius pricing after the complete removal of excise duties by the government was pretty much spot on after all. We estimated a price of around RM140,149.30 with a tax savings of about RM34,850.70. We calculated that based on the Langkawi price of RM127,408.45 and adding 10% sales tax. So we can assume that UMW Toyota is transferring 100% of the benefits of the tax break to the consumers.
Next up would be the Honda Civic Hybrid – an announcement from Honda Malaysia should be coming soon before the end of the year. Our pricing estimation for the Honda Civic Hybrid was RM111,078, a drop of about RM18,902 from the current price of RM129,980.
At the new price of RM139,900, the Toyota Prius really starts becoming very tempting. The new price is also below RM150k so it becomes more favorable in terms of claiming capital allowances – that should start driving up sales for the Prius as a company car as well.
We tried the Prius (watch our real life road test review on Driven or our Japanese closed track test drive on this blog) and found that it could give significantly lower fuel consumption without the driver consciously trying hard to save fuel – that’s what a good hybrid should be doing, not forcing you to mind your throttle to the point that it becomes distracting and unenjoyable.