Malaysians frequently complain of high car prices, but the Ministry of International Trade and Industry (MITI) has come out to say that total cost of vehicle ownership in Malaysia is among the lowest in Asean, according to its comparative analysis.
In a statement released yesterday, MITI said the total cost of vehicle ownership took into account the cost of vehicle, petrol, insurance and road tax, Bernama reported.
It was pointed out that our subsidised RON95 petrol is RM1.90 per litre, lower than Thailand (RM3.80 per litre), Indonesia (RM3.35 per litre), Singapore (RM5.10 per litre), Vietnam (RM3.60 per litre) and Philippines (RM3.20 per litre).
Average annual road tax and insurance in Malaysia is also among the lowest in the region, with yearly road tax at RM398 and insurance at RM3,062. In Singapore, it is RM2,756 and RM7,960 respectively, while Indonesians pay RM1,837/RM4,593, Thais RM459/RM6,736 and Filipinos RM306 and RM2,847.
MITI even gave some real examples. Apparently, ownership costs for a Honda City in Malaysia, accounting for petrol subsidy, is RM126,491, which is lower than Thailand’s RM147,875 and Indonesia’s RM159,963. Ownership costs for a Toyota Vios also follows the trend – RM125,361 in Malaysia, RM146,475 in Thailand and RM147,283 in Indonesia.