CBU vehicles still sold at old prices
KUALA LUMPUR: Completely-Built-Up (CBU) vehicles are still for sale at old prices following the tax revision announced by the Government two days ago.
A check at several car showrooms here yesterday showed that dealers were still using the existing price list for imported motor vehicles as they had not received any instructions from their respective headquarters.
“We learnt about the new tax structure for CBU vehicles through press reports but have yet to receive any new price list,” said a sales adviser from Desa Seri Hartamas here.
Another car dealer in Petaling Jaya said he expected the new price list to be out by the end of the year.
“It appears there will be a slight price reduction for luxury cars but customers must be prepared for a slight increase for multi-purpose vehicles (MPVs) and vans,” he said.
He added that the tax structure for CBU vehicles announced under the National Automotive Policy (NAP) would benefit automobile companies who set up assembly or manufacturing plants in Malaysia.
“Some Japanese and South Korean models are sold at much lower prices here because they are assembled locally. We believe there will be more of the popular foreign vehicles being assembled or even manufactured here,” said the dealer.
Another car dealer, however, felt the NAP would only benefit local car manufacturers but would not have much effect on prices of imported vehicles.
“If there is a price reduction, we will try to maintain the existing price by including additional accessories and improving after-sales service packages,” he added.
On Wednesday Prime Minister Datuk Seri Abdullah Ahmad Badawi said in a statement that import duties on CBU vehicles from Asean countries would be reduced to 15% from 20%, and from non- Asean countries from 50% to 30%.