Published on November 17th, 2023 | by Daniel Sherman Fernandez0
Our Automotive Policy Wish List For 2024
Things can still change in our automotive policy for the average Malaysian car buyer to enjoy quality cars at lower selling prices.
For decades, our Malaysian automotive policy has only been a great benefit to the wealthy car buyer as they had the option of buying duty free cars and ‘storing’ them in Langkawi to get the duties reduced over a year or so. With 5 to 10 cars already in their ownership, they are able to ‘rotate’ their duty free luxury cars outside of Langkawi while the rest of Malaysians, the average car buyer pays a hefty import duty in full.
This ‘scheme’ has enriched luxury car sales people and kept luxury car prices low for a small group to enjoy year in year out. We already explained this process in an earlier article on dsf.my
DSF.my National Automotive Policy 2024 Wish List
- Remove duty free cars for Labuan and Langkawi. It only benefits the super rich and not the rest who pay full taxes on ICE (petrol powered) cars.
- Introduce import duties for premium (high end) electric vehicles (say RM249,999 and above) about 25 percent or so as this ‘free tax’ only benefits the high income earner and not the average Malaysian car buyer?
- Start car scrapping for those who want to scrap their old car for a new one. Only if they buy a brand new EV (electric car) do they get this cash incentive. Say ….. RM5,000 or so per unit.
- Change the requirement for AP holders to import in only 5-year-old and older cars (not new models that sold by official car manufacturers who invest millions in Malaysia and hire thousands of Malaysian). This way, new car manufacturers who are investing millions in factories (that employ thousands of Malaysians) in Malaysia will continue to invest and expand their factories. AP holders do not invest, they are just traders…. Yes?
- Introduce Lemon Law in Malaysia for new and also used car market just like in Singapore which will give higher protection for car buyers, new and used.
So, will you, the average Malaysian car buyer work with us to spread this news by sharing to as many people as possible to get the people in power to change the laws to benefit the ‘majority’ of car buyers and not the elite few?