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Mitsubishi Motors Malaysia (MMM) has announced a price hike for all its models, set to take effect come the first quarter of 2016.

The company cited the depreciation of the Malaysian ringgit as the sole reason for the 2% to 7% increase, that will soon affect all its models.

Mitsubishi’s chief executive officer, Yang Won-Chul, said that, “despite all adversities, rest assured that MMM will continue to offer attractive on-going deals and promotions for our customers. MMM remains committed to provide all Malaysians with a pleasant ownership and value-for-money cars.”

The company also mentioned that should the value of the ringgit start to appreciate and stabilise, its company will review its pricing structure again.

Currently, Mitsubishi’s local range consists of eight models, ranging from the B-segment RM60,199 Mitsubishi Mirage, to the RM291,177 Mitsubishi Pajero SUV. Do note that these prices are before the implementation of the 2% to 7% increase.

Similarly, Toyota, Lexus and Honda have also confirmed price hikes for their models, due to take effect come January 2016. We’ve also reported that Nissan and BMW are on the verge of doing the same, while Mazda confirmed in mid October that it would be maintaining its current prices for now.

Mercedes-Benz Malaysia is another company that has been able to maintain its model’s prices amidst the times. Going one better, MBM even announced a price reduction for its entire C-Class range, having benefitted from customised EEV incentives from the government.