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Volkswagen Group Malaysia’s managing director, Armin Keller, has confirmed that his company will not be increasing the prices of its Malaysian range any time soon.

Speaking to MSN at the recent opening of its new 4S centre in Selayang, Keller said that Volkswagen is continuing to absorb losses caused by the recent devaluation of the ringgit.

He said, “of course, the current cost situation has put pressure on us in the market. We will have to look at it model by model, perhaps, but we don’t have any general plans to increase the prices of our cars as others do. At the moment, we will continue to swallow the bill.”

The ringgit devaluation has caused a stir in the market, with brands such as Honda, Toyota, Lexus and Mitsubishi all confirming price hikes for 2016. BMW, Nissan and Perodua have each said that they would consider doing the same if the situation continues to worsen.