Everyone Knows Cars Are Overpriced In Malaysia, So What's New? - malaysiandigest.com
Cars are very expensive in Malaysia - in fact we’re the second most expensive place in the world to buy cars, right behind Singapore according to motoring magazine Jalopnik. A ray of hope had emerged on the horizon when the National Automotive Policy 2014 (NAP) was announced in 2012 ahead of the 13th General Election promising a gradual reduction in car prices through 2017. Today, we are already in the 3rd quarter of... So Malaysians risk having to pay for both higher fuel prices and cost of living in addition to overpriced cars unless the government pursues the objectives of the NAP 2014 more aggressively. In Malaysia, no import duty is imposed for cars originating from Asean countries, while 30% import duty is imposed on vehicles imported from non-Asean countries. According to the Estimates of Federal Government’s Revenue for the Year 2014 by the Ministry of Finance, Malaysia, the import duty collected on motor cars for 2013 is estimated RM2,417 million compared to 2012 at RM2,282 million. Below is a price comparison of Malaysian and global car prices for the years 2008-2010. Abolishing Taxes Is The Obvious Solution But Not Politically Or. Source: malaysiandigest.com
