UMW Toyota Motor (UMWT) has announced that the prices of Toyota and Lexus vehicles will go up from 4% to 16%. The price increase will only be effective from January 2016.
This move is due to the sharp depreciation of the Malaysian ringgit against the US dollar. Asia’s worst performing currency, the ringgit has fell by almost 20% to the greenback year-to-date. The US dollar is the world’s default trading currency.
UMWT says that it has “implemented strategic moves to protect the interest of its customers in the midst of the fluctuation of ringgit, and absorbed additional cost to a certain extent over the past months.” The company says that it has weighed all possible options, but has no choice but to pass on some cost to the consumers to offset rising input costs due to the forex situation.
“Since the beginning of this year, the fluctuation of the ringgit has impacted our business as some of our parts and components are imported, resulting in an increase in overall cost of production. We have implemented cost-efficiency measures and reviewed our operations across the supply chain to mitigate the weaker ringgit,” said UMWT president Datuk Ismet Suki.
“The company would have implemented necessary measures to minimise forex losses impact and address the fluctuation of ringgit if it dropped gradually. Unfortunately, the sudden and huge fluctuation of ringgit within a short period, has given great impact to our operations. Hence, the company will have to increase the prices of Toyota and Lexus vehicles effective January 2016. The increase is inevitable as there is no clear indication on when the ringgit will rebound.
“We have tried our level best to keep the price increase as minimal as possible. With the increase of our vehicle price, we could only recover partially, not 100% from the impact we have been absorbing. If the ringgit continues to slide in the near future, we may need to review our pricing structure again,” he added.
However, the UMWT head is optimistic that the impending price increase will not have a big impact on sales, and the company is on track to meet its business targets.
“We are facing challenging times but UMW Toyota is confident we can ride out the storm. We have strong fundamentals and a proven track record. I believe customers will continue to choose us and our vehicles as we deliver quality products and services that complement their lifestyles,” he said.
UMWT did not release any figures along with the statement, but expect the cheaper cars to have the smallest jump (eg. Vios 4%) and the costliest CBU models (eg. Alphard) to have the most significant impact. Announcing this move early could be clever strategy by UMWT that will give sales a boost in the final quarter, a period where carmakers traditionally dish out incentives to clear stock. Check out post-GST prices for Toyota and Lexus models.
tq, Mr PM
you failed us once again
ha Ha ha. Masih sayang BN ke? Sedarlah. Kamu ditipu oleh bangsa sendiri sampai 30 tahun pun tak nampak.
Sedarlah. Musuh anda bukan kaum lain tetapi kerajaan anda sendiri yang menipu anda.
LHDN sudah kutip RM50 bil dari GST sahaja dalam 3 bulan. Tidak termasuk income tax lain.
Since when gomen sells toyota cars? PNB only has 10 percent share in UMW. Get your fact right.
Why Toyota so expensive in Malaysia? Thanks to Proton and its awesome protection.
Why Toyota getting even more expensive now? Thanks to government.
See how much government love us. Cukurlah!
Where is Najib’s Promise to reduce cars by 30%?? Now its going up and up and up
CBU cars in Thai are expensive too, and that’s when no Proton there!
Proton is the one of the CBU there. Sadly no one even bother to test drive it.
Price hike for orther brand nothing to do with Proton. UMW itself also not blame the problem from Proton but impect of weaken Ringgit vs Dollar
Toyota already so expensive, because MITI not allow to be priced cheaper, to protect Proton.
Now Toyota even more expensive, because of the weak currency.
Now you understand my words? Faham?
Government owns UMW through various bodies dungu. EPF, Kahazanah and many other GLCs that own UMW
Omg you read or not? List down here what percent of those companies have in share in UMW?
UMW shareholders percentage
51.61% PNB
15.86% EPF
14.26% Local Shareholders
18.27% Foreign Shareholders
PNB is the parent company for Amanah Saham Nasional Berhad (ASNB) which operates a number of unit trust schemes, and is a wholly owned subsidiary of Yayasan Pelaburan Bumiputra and is as a pivotal instrument of the Government New Economic Policy to promote share ownership among the Bumiputera.
So does this answer your question??
I hope UMW can both give an extra 8% bumi discount to selected buyers. I don’t see why we should limit the discounts to houses alone.
Cakap jangan pakai lutut
Dont talk with ur diiiick
http://www.4-traders.com/UMW-HOLDINGS-BHD-6491131/company/
Permodalan Nasional Bhd. 49.7%
Employees Provident Fund 16.5%
This 2 more than 50% already.
Who owns PNB and EPF?
Mash ramai kaum sendiri belum sedar lagi, masih buat bising kat petaling street! Satu atau dua ratus boleh gaodim! Banyak Sedih!
Malaysians already paying 3x the global prices of cars. That means, UMW makes at least so much profit from each car sold.
Camry, I think they make at least RM90k clean profit from each Camry. Now Ringgit jatuh, instead of being less greedy, ie make RM70k clean profit, they still want to hantam Malaysians
Harap tuan baju kuning pun tk bodoh yer…wa nk bg tau lu GST tu bkn LHDN kutip yer itu Cukai Kastam kutip..baju Kuning u Sgt Pandai…Fakta pun bleh salah….mcm mn nk perintah negara ..LHDN n Kastam pun Tatak tau….lu ilmu tak ada aka bodoh jgn tunjuk pandai simpan..sikit kot2 jd Member of Parlimen senang sikit nak kencing pengundi hahaha…
P1 bashers just bash. No proof is ok coz they believe in hearsay
kuning n Merah….LHDN dan Kastam tu duduk bawah Kementerian Kewangan…Mcm TLDM dan RAMD bidang kerja berbeza tapi tetap didbawah ATM…Kementerian Pertahanan…Jgnlah terlebih nak mempertikai komen orang lain…
What is your contribution to the country?
Other than to whine, is there a point to your existence?
Government owns UMW through various bodies dungu. EPF, Kahazanah and many other GLCs that own UMW
What is your contribution besides leeching on the Government for help, sleeping, thinking about marrying more and being lazy.
Better than best selling p2 while more money goes to jepunis
Yes, Toyota will be more expensive. And you think Honda, Mazda, Mercedes, BMW, Hyundai and Kia could remain same price? haha…
Good but expensive car, ppl still buy. Cheap and junk car, give out free also no one touch.
Then explain why you bought junk saga for your 25 yrs Los son September last year?
Great, next month Honda sales is going to up again.
Pui to UMW Toyota, price already so expensive with empty safety spec (specifically the “all-new” VIOS which has nothing new inside the hood) still wanna raise price!! *face palm*
*prepares popcorn*
very good ….. Proton the winner?
If RM back to 3.2, will the price drop back? I doubt it
Do you think RM can back to 3.2?
Ans: Mission Impossible.
You really think so? So what do you think our prospect as a country in the future? Forever with Asia’s worst performing currency?
If you’re at least a bit of a Malaysian(if you’re our neighbor I would understand the hate), do us a favour and start believing we will change for the better sooner or later through collective effort by the then government and the people.
Worst idea because Rakyat still being bully monopolies by this cronies Government for another 50’s years??? Change is the only idea !!!
unless the thick skin turun la
myr turun, harga naik. najibai mesti turun sekali!
Dont buy Toyota… Very expensive ‘Tin Kosong’
Everything naik…bila mau turun!!!
UMW be my guest to increase the price.
no one cares as people are going for honda already.
OK loh kena tipu lagi..
this is not the 1st time and will not the last time also..
so what’s next again?
UMW… You can close down already
This is good for toyota resale value
Where is Same Lorrr… Pergi buat part time jual ikan pasar malam…
ringgit depreciation against Japanese Yen or USD causes the price increase?
Keta2 Toyota semua USA mari…
UMW toyota doesn’t care and will increase their price cause the bulk of their sales are from government fleets, which is basically guaranteed sales. At the end of the day, it’s the tax payers that is paying for it.
Janji PRU ke 13 tak ditepati – Harga kereta tak turun 30%
Apa alasan lagi??
PRU ke 14..wahai org kampong pikir dan renung2 kn la
What is the point of CKD again?
LOL sales down, to clear year end stock.
Claim next year price going up.
Top kek.
Sixteen percent?
GG.
It’s US dollar value increase, kenapa Toyota nak naik kan harga pula? Japan nothing to do with this
Up or down 70% car price, i still not buy Toyota brand
LOL..desperate UMW scare tactics to push toyota & lexus sales!
dont be fooled. honda, nissan, bmw, benz hold steady…
All prices will go up by end of the year due to super management by our nasi lemak gomen and our inteilligent PM. All the electronics prices already go up including household prices… Since its nasi lemak managed country, the prices will go up again n again. Just wait!
Who is nasi lemak? Care to explain?
This is not the time to purchase any vehicle unless u absolutely need to own one. I’ll continue to wait for the Ringgit to stabilise before buying any vehicle.
Good cars like Toyota and Lexus are no problem with the price hike. This will result even better RV!
Buy a Toyota or Lexus now and enjoy good RV later. Dont waste your hard earned money on those Kimchi, Dim Sum, Chapati, French Toast or Nasi Lemak cars.
Hopefully people now can stop comparing Vios with Prevé although it’s not the same segment . Minor problems we may face in any car . But end of the day we all want a car with good handling , safety and a bit of powerful engine just to our make driving more exciting . Good day :)
Make our*
If they increase car prices more toyota showrooms will close or going bankruptcy. Honda and other competitors joyous happily
I checked out Lexus Malaysia’s website last night. Got a shock when I saw the prices for the yet-to-be-launced IS200t had already gone up. It was almost RM300k for the base “premium model”. RM344 for luxury. But strangely F Sport was cheaper at RM340. I don’t know if something wrong with my laptop or the website had errors. But this morning (ie right now), the IS200t site is down. Anybody know whats going on??
Bro, I think currency fluctuate to much on a daily basis, the accountant having big headache figuring out how to price it in local currency. At the rate our currency is depreciating, maybe next week when you check the base model IS200t will be 350k already. I am not sure whether to cry or laugh anymore.
Anyways, the IS200t site is up & running again. Its back to the earlier pricing, which though cheaper than it was last night, is still pretty expensive compared to the comparable Infiniti Q50 turbo. I do hope Audi will offer a good price for the new A4. It is a very tempting car indeed.
toyota naik harga – honda, mazda, nissan HAPPY :)
lexus naik harga – benz, bmw, audi HAPPY :)
effective jan 2016?
what if ringgit appreciate by then? still increase price? ^^
Useless Toyota, always the first to increase prices. No harm operating under lesser profits for the sake of customer loyalty. This entire Ringgit issue wont last too long either.
Toyota, use cost up to clear current discounted stock.
It’s “laughing stock”.
2 airbags + no ESP
Free Camera & DVD.
Coffin stock on sales right now!
Whether your price up or down it doesn’t matter to me…totally given up”T” brand…yawn….zzzZ