The just-concluded Budget 2013 speech made by Prime Minister Datuk Seri Najib Tun Razak didn’t include any news involving the auto sector.
Last year, the biggest news was that the full import tax and excise duty exemption for hybrid/electric cars and motorcycles announced in Budget 2011 had been extended to Dec 31, 2013. Nothing was mentioned this year, presumably due to the fact that the incentive runs until the end of next year, so any announcement on a further extension can be made in the next Budget.
Of course, making an announcement very early on would ensure that the industry can conduct proper stock and product planning, always a good thing. However, there may be no need to wait that long, because the upcoming National Automotive Policy (NAP) review by MITI is expected to cover all automotive-related matters, although when that will be revealed is not yet known.
Back in April, it was reported that the final draft of the review was due to be presented to the Cabinet, and while no details were revealed, International Trade and Industry Minister Datuk Seri Mustapha Mohamad was quoted as saying that the review will push for a more liberal local market, among other things.
Meanwhile, the market continues to face uncertainty as the buying public waits in anticipation of news of a possible reduction in car duties/taxes. The lack of any development in Budget 2013 means that speculation will continue, affecting sales. Certain dealerships are already reporting a drop in sales, by as high as 50%.
Full text of Budget 2013 speech after the jump.
Looking to sell your car? Sell it with Carro.
Life goes on …..
got new bus purchase rebate ma
nothing for auto? not unexpected…..
Vote sm@rtly. :)
Happy voting guys!
that’s it… i’m not supporting gomen anymore…~
Y?…u get 50% on public tran, 1 point tax reduction, some get free insurance…and many more…just bcoz of car?
simple, Most people Here think that the gov made a mistake with NAP. Malaysians are forced to pay extreme price for cars. Price much more than it is worth. Besides majority here are practical people.
yes, because the alternative is that we will get 20% less excise duties for cars, abolishment of tolls, minimum wage of rm1100, free education n no corruption..
And you believe that?
yes… cause let’s face it… public transport is only good for those who are in the klang valley… we only hav buses here in penang…
Yes. How about people with low income earners who live in rural areas with no public transport? Think?
Can anyone tell me what’s Vision 2020……..it’s something I heard long time ago, was it a dream?
There is no more vision 20/20. Malaysia is now afflicted with myopia.
That 2020 man already exhibiting presbyopia …
Then we change gov ….lol…..! Say gdbye to BN.
Now this has happened, should we surrender our hope of having the ridiculuosly high taxes on cars being abolished ? The PM not even mentioned the word NAP at all, which the new policy is due supposedly this year !
That bcoz it bout BAJET 2013 not bout NAP…there is still 3 mnth anyway
No problem, we don’t vote BN, for sure
Alaaaa…soooo boring la your comment.
PR vajet said they cut 20% xcise tax…to cover they make AP is open for bidding…when there is bid the price tend to be increase higher…franchise AP is free currently, open AP(gray importer) RM10000 a piece
I believe the govt strategy is to spread out the good news for maximum election effect. I suspect they might announce in the NAP later.
Car taxes are such a good income to this Gomen. They are not going to reduce it. Dream on.
If sales at dealerships are down by as much as 50% then it is good news for consumers. We’ll enjoy discounts and the wait for certain models will be shortened. Yippee!
Bye Barisan~~~ Vote wisely!
Guys, hold ur purchase. Dont buy new car, lets boycott them! :D
Ya la … All say vote PR because of one miserable car tax reduction. When the reduction comes let’s see how many can than the loss in value of your current car. Talk is easy guys. So so easy. Both sides are trying to buy votes. None is working hard on the economy.
Selling your car today already cannot bear the losses what more if the tax is reduced by 20% per year. PR has failed to be honest as to how that can or cannot be cushioned. If they were HONEST, they would say we must take the hit now for a better future. But they dare not la. In case it looks bad. Both sides cannot tell the truth one la.
Of course we will be hit now but at least the next 6 cars you buy before you die, you will save. Basic maths also cannot understand is it? Lose 1 but win 6 also susah faham?
Also, you children and their children also will be able to save money with cheaper cars. So, as a whole, your whole family can save hundreds of thousands of ringgit. And here you are worried about losing value on your existing car. Don’t be selfish lah, think about your children’s generation also!
Mr Singh … It’s people like you that cause problems because you do not know how to read. I said, it’s necessary to cut duties on cars but the TRUTH behind the hurt is not spoken. What selfish? Learn to read la.
Like I said, how many prepared to happily lose money soon? When time comes to sell, let’s see la. Sale price cannot cover the outstanding loan la.
At present any car sold within 3 years already cannot cover loan or just can cover.
Remember to learn to read and not just comment.
loverscars, you dunno how to use logic wan izzit ?
“At present any car sold within 3 years already cannot cover loan or just can cover”
then mr singh replied
“Of course we will be hit now but at least the next 6 cars you buy before you die, you will save. ”
so he made a point there and looks like you also dunno how to read
and this message is to shoot you back : REMEMBER TO LEARN TO READ AND NOT JUST COMMENT!!!
so you suggest resell car for every 2 years? crazeh
Lower new car prices will help when you trading in your old car. A no-brainier.
I’m willing to sacrifice the extra losses when the reduction comes,knowingly that my next generation won’t have to live the experience like us where we needed to pay crazy amount of taxes $ in order to own a better ride.
You failed Math in school right? If car prices are reduced all it means is that my next purchase will also be cheaper. Matters not if the second hand value of my car drops since I will also be paying correspondingly less for my next car be it new or used.
Be End….. Like to say U good bye…..
still drive viva turbo twin cam,twin exhaust..and drive it like you in golf gti turbo.lol
Most Important of all is GST!!! No balls to implement GST due to afraid of rakyat not happy and resulting lesser vote on BN. I can see the budget 2013 mostly spending instead of developing. I’m sure neighboring country will laugh their a** off seeing what’s out budget 2013 all about.
So what singpok had done with rakyat there? Haha, they did nothing. This is better than nothing little boy. I had sibling live there and properties still and still like hell. 3 families under 1 roof.
I rather they not give free handouts and improve on our quality of life. In singpok at least the value of the dollar is higher. Ask any fresh graduate here now, they probably can’t buy a decent place too. Car prices add on to their misery.
in singpok there are many millionaires, they are rrrriiiiiccccchhhhhhh
median not majority
GDP is per 1000 but not majority
think
Guess why they’re rich. Transparent governance, less corruption, and sharing of wealth among the people instead of just the ultra-elite majority that holds power. An engineer there makes triple the amount compared to an engineer here.
Think.
Vote wisely.
I pity those second hand and new car dealers as their sales are getting affected for no reason because the government is keeping their mouth shut and not addressing the speculation. This is so similar when you compare with the housing industry tax gain which was being speculated for some time until the government decided to mention it in the 2013 Budget speech.
why?!
are you a car seller? cheaper cars in the long run!
I have close fiends who are car dealers. They are already factoring in a discount of around 5% on the second hand cars they buy from the public. You think these dealers are dumb?
with such a big deficit, if reduce the tax, where will the current BN find the hole patch back? giving out $$ to buy smartphone, etc somemore. The deficit will bring this country to Greece, and Ringgit worth nothing.
G, please naikkan harga P1 and P2 to address the public transport problem.
But turunkan harga kereta lain to reduce burden of rakyat.
Since Be End relies so much on the revenue from non-local cars, let’s hold our car purchases. That way they won’t have $$$ in their coffers
Thanx much to gov by creating such a nice n stable country, not forgetting our neighbouring country, if any ever mention sg, then please buy double storey terrace n a plate of nasi goreng for me there, ok…. TQVM
Damn! Was hoping for tax relief for diesels…they’re the greenest meanest machines around…sad!
With a collection of over RM8 billion a year from car’s excise duty. Do you think the Govt is gonna give up this golden goose? I just don’t see our car prices coming down any time soon. Come vision 2020, we are still gonna pay through our nose for a car & the prices can only head North. So called NAP2 still not in sight & I think all those involved in shaping up NAP are taking a really long NAP. Have a nice weekend mates!
They ignore us…
Well let ignore them, let maintain our current ride and boycott buying any new cars… If u need to buy, buy a second hand… and dont forget to convince others… We hit hard at their pocket…
When the buying stop, the killing can too…
If we work together, we can win this…
NAP = No Automotive Policy…
If possible, hold your buying power (poor rakyat).
Cronies may go ahead and spend (since they have free money).
Everyone is talking about car taxes. To be fair to the government, they give Malaysians cheap subsidised petrol at RM 1.90 per liter.
You pay hundred of thousandsssss of ringgit in advance to finance your own fuel subsidies.
Not to forget, it’s with interests ok?
Please think rationally with your brain ok?
We must vote it right for the sake of our future, children’s future.
Move out from your comfortable zone, look at things outside the box. Think for the long run.
Vote wisely folks.
Agreed, people keep thinking they save from petrol when they have paid in advance for it. Don’t compare prices to other countries, especially western ones, as they make 2-3 times more as well for the same positions available here (dollar for dollar).
Vote wisely, for the sake of the future.
Aiyaaa…your tawkey make millions of ringgit and drive a mercedes, he pay you nuts and banana for ye monkey jumping. Still blaming the government?
Agreed! Have been trying to explain to people out there the fact that we paid the subsidy for fuel in advance. In fact, if my calculation is correct, the price of normal car is inclusive of subsidy for usage more than 10 years! So people, we are not being subsidised for our vehicle fuel. We have paid in advance in the shape of excise duty. I’d rather pay non-subsidy fuel then.
They always said FAIR for everyone. Is it fair to impose higher tax on cars assembled by Malaysian? Higher car price means lower production, lower sale, lower job opportunity, lower pay, so we suffer!
problem with both government and opposition comes from the same shit. we must have the alternative. the team must comprise those with brains and common sense. Anwar, LGE Najib etc are whole bunch of idiot voted by the rakyat to talk cock in the parliament
At the end Gov cronies and AP kings still rule our automotive industry and we poor rakyat still drive the crappy proton and perodua cars.
not only did the budget failed to address the GST implementation they also avoided the sin tax increments which people have speculated that G was going to increase it for next year’s budget.
G is not going to announce the new NAP as the trade minister mentioned it on TV that the G is going to implement the new NAP in stages. I believe this might be due to PR’s Turunkan Harga Kereta campaign which prompt the G to decide differently.
As I know there are companies allow their workers to claim for car petrols. But very very less companies would pay for workers car loans. Meaning, it will be a good news for many people if car prices drop even increase in fuel prices. At least I am one of those. Not to mention my boss even increased my fuel incentives many years ago the time the fuel price hit rm2.70.
Credit where credit is due. Without gov subsidy the price of 95 petrol would be higher. In Thailand the price is around RM 4 per litre. That difference quickly eats up the lower car price in Thailand.
Petrol subsidy is socialized in that ALL the Rakyat pays; whereas high sticker prices are partly privatized in that Selected Few such as AP holders, distributors, and the lords of the industry are enriched at the expense of car owners.
satu lagi projek krony Bee End….
Haiyya…why la Ah Jib gor don’t mention tax rebate for aircraft rental? RM96k for 2 days of rental(?)…amazing. That’s equal to my 1.5 years salary.
y… don’t we look on other side … on car tax. if the tax been reduced then more cars on the road n more pollution n wt will happen to the next gen.. Go Green guys…. safe the air n health.. help improve public transport n enjoy the ride… less jam, less polluted, less heat n less noise… I believe only those can afford a car should buy n those can voice for a better public transport… once a wise man said never be to gready n u will lose all…