The following is making reference to an article in an online news publication, titled “Car prices may go up after six months”.

The first paragraph of the article cites:

“Car prices will be increased six months from now, should the global economic trend of lower crude oil prices and the appreciation of the US dollar continue," said the Malaysia Automotive Institute.

MAI would like to respond to the issue of car prices, as contextualized in the above paragraph.

On 12 th January, MAI invited all members of the press to brief about the Malaysian Automotive Review and Insights of 2014/2015.

During the briefing, MAI did not talk about any car price increase in the foreseeable future. Nevertheless, there was a question raised by one of the journalists about the possibility of an increase in view of the appreciation of the US dollar.

You may refer to the following videos:

1.     The footage when the CEO of MAI, Madani presented the impacts of USD appreciation to local OEMs

     

2.     The footage of Madani’s answer to the question on the possibility of the price increase.

        

In conclusion, there is no mention that car prices will increase, and any reference to the impact is made towards the overall automotive industry.

The focus of the presentation was explaining the actual Total Industry Volume (TIV) in 2014, and the forecast in 2015. The following are the slides presentation.

Full Presentation Slides : MALAYSIA AUTOMOTIVE INDUSTRY REVIEW & INSIGHT 2014 / 2015

Constructive criticism based on facts and sound argumentation are always welcome!

However, we plead for discretion and care to avoid unnecessary panic and speculation that may cause unneeded disruption to those who are working hard to support themselves, their families and communities.

MAI is a Ministry of International Trade and Industry entity aimed at developing and promoting competitiveness of the Malaysian automotive industry.