Published on May 12th, 2018 | by Daniel Sherman Fernandez0
POST GE14…..Will Car Prices Come Down?
This is a hot topic for our readers….since we are a motoring website. This question first trickled in yesterday morning and by this morning a few more readers and friends started asking the question of ‘cheaper car prices’ with the new Malaysian government. (probably because they all want to buy a luxury car)
Our simple analysis……NOT Really…..this is not a priority for a new government looking to rebuild a nation and provide better living standards for the people who voted them in. (please note that with the removal of GST…very soon……selling prices will come down….a little)
The price of cars cannot come down for at least a year. Why?……think of the used car market. the growing leasing car market and the used and new car stock pile that is sitting in open yards, warehouses and showrooms around the country. Billions of ringgit are in question. A gradual reduction…..a year on year move will probably happen. Plus, the government needs the import tax income from imported cars to be used to provide medical, public transportation, roads, education and more for Malaysians. So be patient.