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Speaking at the local launch of the new X1 compact SUV, BMW Malaysia announced that it would not be increasing the prices of its models any time soon.

“At the moment, we are absorbing any additional costs that come our way,” Allan Harris, managing director and CEO of BMW Group Malaysia said, in response to whether the troubling ringgit devaluation would affect the prices of BMW cars here.

“With the current exchange rate at (the lower half of) RM4 to the US dollar, the company is still able to cope. But should it go up to the RM5 or RM6 mark, we might have to reconsider our position,” he added.

BMW X1 Main

On the back of those circumstances, BMW Malaysia also confirmed that it has applied for the government’s “customised incentives” for Energy Efficient Vehicles – the same incentives that saw the reduction of Mercedes-Benz Malaysia’s C-Class prices yesterday, and are awaiting the results of this.

“Every manufacturer in the industry is in discussion with the government, applying for the EEV incentives. However, given that these are customised incentives, each manufacturer may not get the same. We are certainly in talks (with the government), and as soon as we know what the results of those discussions are, we will announce something new,” Harris explained.

At the same event, BMW Malaysia also announced its year-to-date business performance figures – the company has shifted 5,222 BMW models, 555 MINI vehicles and 745 motorcycles under BMW Motorrad, making 2015 performance figures for the group up to this point 5,777 passenger vehicles sold, and if motorcycles are added, 6,522 units in all.