During Perodua’s 2016 business performance review, company president and CEO, Datuk Aminar Rashid Salleh revealed that prices of its models might go up next year. He explained that this will be unavoidable should the current economic condition continue as such.
“The situation in 2016 has been challenging, and arguably the most difficult since the ASEAN financial crisis before. It is expected that 2017 will be just as challenging, as we’ve started utilising two foreign currencies – the US dollar and Japanese yen – in our business dealings,” he said.
“Should both currencies continue to show gains against the Malaysian ringgit, this will definitely impact Perodua. Actually, at the rate of USD 1 = RM4.4, it has already impacted us, and we are forced to absorb the (cost),” he continued. The national carmaker fended off unfavourable forex conditions last year, and refused to increase its prices at the time. Similarly, Mazda also kept its vehicle prices unchanged then, although come 2017, the company will announce higher vehicle prices.
“If conditions continue as they are now, we may have to review our current prices. We can’t continue absorbing the effects of the current economy. However, various steps will be undertaken before such a move happens, and we understand that we are selling affordable vehicles to the masses,” Aminar added.
Aside from suppliers who purchase replacement parts from overseas, manufacturers who source their machines will also be affected. “The good thing is (prices for) vehicle replacement parts won’t be badly affected. For manufactures however, the effects are bigger as it involves their machinery. Collectively, this will affect Perodua,” said Aminar, who added that total TIV decreased by 15%.
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AI-generated Summary ✨
Comments mainly express frustration over potential price hikes by Perodua due to the ringgit's depreciation, questioning why local sourcing doesn't prevent price increases. Some believe the hikes reflect greed or currency issues, while others discuss the national car status and local content. There is skepticism about the government's promises for lower prices and concerns about the impact of currency decline on automotive costs. Overall, sentiments lean towards criticism of rising prices, perceived profiteering, and the economic challenges faced by consumers.