International Trade and Industry deputy minister Datuk Hamim Samuri has said that the government is committed to ensure that prices of imported cars, especially those with mid-range engine capacities, will be reduced by up to 30%, The Star reports.
“The government will keep its promise of reducing prices of imported cars between 20% and 30% within the next five years,” Hamim said in response to a question by Pandan MP Rafizi Ramli in Parliament.
However, Hamim said the price reductions do not include imported luxury cars, the English-language daily reported. He was not reported to have elaborated on what constitutes a luxury car, or what exactly was meant by mid-range engine capacities.
The imported car price reductions cannot happen immediately, as it could negatively affect the industry, including the used car market, added the MITI deputy.
“What will happen is that consumers will focus on getting new vehicles and will no longer want to buy second-hand cars,” The Star quoted him as saying.
Hamim also said RM10 billion was generated from excise duties for imported cars, with RM3.37 billion collected in 2011, RM3.44 billion in 2012 and RM3.19 billion in 2013.
The MITI deputy was recently reported as saying that oil companies can start selling Euro 4 and 5 fuel in Malaysia earlier than the gazetted dates. The gazetted introduction dates are September 2015 for Euro 4 RON 97, October 2018 for Euro 4 RON 95, September 2020 for Euro 5 diesel, and finally September 2025 for Euro 5 RON 95 and RON 97.
The correlation between “luxury” and big-engined cars seems to be a trend – it has been made with regards to RON 97 petrol usage, higher road tax instead of paying more for RON 95, as well as a fuel tax on bigger-engined vehicles.
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AI-generated Summary ✨
The comments reveal widespread skepticism and frustration regarding the government's promise to reduce imported car prices by 20-30% within five years. Many believe this is merely a political stunt, citing past unfulfilled promises, inflation, currency issues, and high taxes that keep car prices high. Some suggest the government is manipulating the narrative to gain votes, while others argue that reductions are already happening through CKD operations. There is a strong sentiment that promises are frequently repeated but never realized, leading to distrust. Several comments criticize the government's transparency and accuse it of dishonesty, with many advocating for immediate price reductions rather than waiting years. Overall, the comments are mostly critical, cynical, and doubtful about the government's sincerity to actually lower car prices soon.