The announcement by International Trade and Industries minister Mustapa Mohamed that the government would reduce car prices between 20 per cent and 30 per cent over five years was a message to Malaysians to forget about buying cheaper cars.
“In effect, the BN government is telling Malaysians that they can stop dreaming of cheaper cars for the next five years, and if car prices drop at all, it will be after the 14th General Election,” said Petaling Jaya Utara member of parliament Tony Pua.
Pua challenged Mustapa’s reasoning that car prices would be reduced in accordance with “market forces”, which had failed to bring car prices down over the past 20 years.
“(Then) why Malaysians should believe that these same 'market forces' will suddenly be able to result in a 20-30 percent drop in prices over the next five years?” he asked in an opinion piece on news site Malaysiakini.
The DAP national publicity secretary said new cars remain costly in Malaysia due to government taxes and protectionist policies for local car companies.
He also dismissed Mustapa’s claim of serious impact on the automotive industry with lower car price, including massive loss of jobs as well as a blow to the second hand car market.
Instead, Pua said reduction in excise duties would have no impact on car companies' profits and by extension its workers.
Countering Mustapa’s claim of worsening traffic jams, Pua said car ownership in the Klang Valley had exceeded the 1:1 ratio, thus cheaper cars would not worsen the already bad traffic congestion.
“Taxing the people more, while maintaining the existing duties are the only means by which the BN government will be able to continue funding its largesse and excesses,” he added, and suggested that the public can brace for more "broken promises to come". -HD
Wednesday, May 29, 2013
Do not have any illusion of cheaper cars
About sabahdaily
RHB Research said a reduction in new vehicle prices will not necessarily result in higher vehicle sales as the move would affect the residual values of used vehicles
ReplyDeleteThe equity value in used vehicle residuals was typically a significant component of the down payment for a new vehicle, it said in a research note.
ReplyDelete“A sharp contraction in used car residuals would leave some car buyers unable to fully fund the new vehicle of their choice,” it said.
ReplyDeleteThe issue is compounded by the extended hire-purchase financing period of up to nine years.
ReplyDelete“A contraction in used car residuals could leave many borrowers, especially those in the lower income segment, in a negative equity position, where the old vehicle is worth less than the amount of the outstanding lo
ReplyDelete“Accordingly, we continue to view the potential regulatory change as a significant risk for the sector, going forward,” it said.
ReplyDeleteRHB Research said the opposition coalition's election manifesto contained pledges to gradually abolish automotive duties that could potentially bring new car prices down significantly.
ReplyDeleteThe risk was that potential buyers could adopt a wait-and-see stance that would disrupt the recent positive sales trends as was the case in September 2012 when buyers deferred purchases ahead of the 2013 Budget announcement,
ReplyDeleteThe research house said the pipeline for new model launches remained healthy, with 24 launches of new and facelift vehicle variants in the first quarter of this year
ReplyDeleteIn the first quarter, Proton only introduced the Exora Bold, a variant of the Exora MPV while Perodua introduced the S-Series variants of the existing Myvi, Alza and Viva model
ReplyDeleteRHB Research has forecast the total industry volume this year to grow 1.5% year-on-year to 637,000 units
ReplyDeleteIt said interest rates remained accomodative although Bank Negara's responsible lending guidelines would remain in force and could continue to affect marginal buyers at the low-end of the market dominated by the national carmakers.
ReplyDeleteThe limiting factors to industry growth were high absolute prices of cars in general and high household debt ratios,
ReplyDelete“The dearth of all-new models from the national manufacturers and increasingly competitive pricing strategies adopted by some non-national players mean that Proton and Perodua's market shares will continue to be under pressure,”
ReplyDeleteWhile the increasing affluence of national car owners resulted in many trading for more expensive non-national alternatives, the lower end of the market continued to be squeezed by stricter hurdles to qualify for financing, it added
ReplyDeleteThe opposition cannot be proud of their efforts to champion the people's lot because in the past five years the "pact" had only implemented 15 percent of the promises made in its manifesto for the 2008 general election, Datuk Seri Najib Razak said.
ReplyDeleteThe prime minister said that the opposition comprising PAS, DAP and PKR was only good at making promises but had failed to fulfill them, including in states under its control, like Kedah.
ReplyDelete"In 2008, we (the people) were taken in by the (opposition's) promises, surely we are not going to be fooled again (this time). Surely we are not giving them a second chance or space," he said.
ReplyDeleteNajib said that unlike the opposition, the BN was capable of fulfilling its promises and would continue to do if given the mandate to govern at the national and state levels.
ReplyDeleteThat was why the BN used the term "aku janji" (pledge) because it would fulfill whatever was promised to the people, he said.
ReplyDelete"The opposition said that a manifesto is not a promise...if it's not, why table a manifesto? It's a waste of time. That's why we (BN) do not use a manifesto because the opposition has tarnished (the word) manifesto.
ReplyDelete"We use pledge...promise to the people and even higher, our promise is judged by God. That's why I say that today is better than yesterday, tomorrow will be filled with hope and light," he said.
Najib said that the various initiatives introduced by the BN government, like the 1Malaysia People's Aid (BRIM), were proof of the party's achievement in keeping its promises and bringing development to the people.
ReplyDeleteThe initiatives had shown that the national transformation programme introduced by the BN government was better than the opposition's call for reformation.
ReplyDeleteThe people already realized that "reformation" was only connected to, among others, meaningless street demonstrations, resulting in the "call" not getting response now, he said.
ReplyDeleteNajib said that prior to this, the BN government had made a mistake but it had learnt from it and would not repeat it in championing the people's lot and bringing change to the country.
ReplyDeleteTo ensure that Malaysia continued to progress and succeed, the people must choose individuals with vision for the country, unlike the opposition which was only good at making promises, he added.
ReplyDelete"Not just vision, careful and systemic planning (are needed) too. Choose people capable of implementing change, not people who make empty promises," he said.
Najib also that the government built schools and prepared the syllabus to educate children to be useful beings.
ReplyDelete"We build schools so that our children have high morals, obey the law and respect the aged and people of the same faith as well as non-Muslims, not to revile, which could destroy the society's values.
"A nation is developed not because of its buildings but because (its citizens) have high morals. That's why we want to carry out transformation."
SUSULAN manifesto BN dan PR yang menjanjikan penurunan harga kereta, pelbagai spekulasi dibuat selepas berakhirnya PRU13.
ReplyDeleteSetakat ini harga kereta diketahui tinggi. Harga terendah Honda City, umpamanya adalah RM83,219.50, Toyota Vios model 1300cc berharga RM72,417.50.
ReplyDeleteBagi kereta buatan Malaysia seperti Proton dan Perodua pula, harga yang ditawarkan adalah RM24,924.30 bagi model Perodua Viva 660cc.
ReplyDeleteUntuk Proton pula, harga terendah yang ditawarkan adalah model Saga FLX 1300cc iaitu RM35,333.65.
ReplyDeleteHarga ditawarkan ini sukar untuk dimiliki oleh keluarga berpendapatan rendah, terutama yang kos saraan hidup yang tinggi seperti mempunyai pendapatan kurang dari pada RM1500 sebulan.
ReplyDeleteGolongan muda juga antara yang terbeban akibat harga kenderaan yang tinggi kerana belum ada pendapatan stabil dan hutang Perbadanan Tabung Pendidikan Tinggi Negara (PTPTN).
ReplyDeleteMenteri Perdagangan Antarabangsa dan Industri, Datuk Seri Mustapa Mohamed pula berkata, kerajaan akan mengurangkan harga kereta secara berperingkat-peringkat sehingga 2017.
ReplyDeleteSejak Oktober tahun lalu, harga 10 model kereta popular di negara ini telah menurun 7.3 peratus purata.
ReplyDeleteBeliau berkata, pengurangan harga itu adalah hasil proses pasaran yang mana terdapat peningkatan kecekapan dan persaingan di kalangan pemain industri automotif.
ReplyDeleteMenurutnya, usaha pengurangan harga kereta haruslah dilaksanakan secara berhemah dan tersusun supaya tidak menjejaskan pertumbuhan industri dan peluang pekerjaan.
ReplyDeleteKerajaan juga berbincang dengan syarikat-syarikat pembuat kereta dan satu Rundingan Perjanjian Perdagangan Bebas atau FTA bakal dilaksanakan serta faedah-faedah akan diperkenal kepada pengguna.
ReplyDeleteSoalannya, bilakah proses penurunan ini akan bermula?
ReplyDeleteApakah pada Jun atau Julai depan atau pada Januari 2014?
Persatuan Pengimport dan Peniaga Kenderaan Melayu Malaysia (Pekema) menggesa kerajaan umumkan mekanisme penurunan harga kereta dalam masa terdekat.
kelewatan pihak berwajib mengumumkan mekanisme menurunkan harga kereta telah memberi impak kepada pasaran automotif yang kini mengalami penyusutan disebabkan pembeli tunggu dan lihat.
ReplyDeleteNamun, sekiranya dinilai secara rasional, pelaksanaan penurunan harga kereta ini, dapat dilaksanakan, ianya mampu untuk mengurangkan beban kepada rakyat berpendapatan rendah dan sederhana, terutama di kawasan bandar.
ReplyDeleteCar prices will be reduced gradually until 2017, says International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
ReplyDeleteAs outlined in the 13th General Election Barisan Nasional Manifesto, Mustapa said the government had promised to trim car prices between 20 per cent and 30 per cent over five years.
ReplyDelete“In fact, since October last year, the price of 10 popular models in the country have come down an average 7.3 per cent,” he told reporters after attending the ministry’s monthly gathering, the first after Mustapa was re-appointed to the Cabinet.
ReplyDeleteHe said the price reduction was part of the market process as a result of more efficient and competitive players in the automotive industry.
ReplyDeleteHe said the price reduction was part of the market process as a result of more efficient and competitive players in the automotive industry.
ReplyDeleteMustapa said the price reduction exercise should be done in an orderly manner so as not to affect the industry’s growth and existing jobs in the automotive and related industries.
ReplyDelete“As such, we have had discussions with automotive manufacturers and they are aware of ongoing negotiations to conclude a free trade agreement which would be implemented soon,” he said.
ReplyDeleteMustapa also said industry players must now be ready to step up their competitiveness edge in tandem
ReplyDeleteThis is because the industry which was becoming more competitive in Malaysia and abroad.
ReplyDeleteBesides bringing down car prices, the government was also reducing traffic congestion by setting up a more efficient transport system in the country, he added.
ReplyDeleteThe people can expect lower car prices in the near future.
ReplyDeleteInvestment in the education sector was among the huge focus by the government throughout 2012 in efforts to generate human capital excellence, creativity and innovation, whereby a sum of RM50.4 billion was allocated for the sector.
ReplyDeleteAccording to the economic report, RM4.6 billion was provided for the building, upgrading and maintenance of school facilities as well as non-physical projects such 2012/2013 Economic as computer systems, furniture and fitting involving 1,969 projects of which 523 had been completed.
ReplyDeleteA special fund of RM1billion was also allocated to cater for the immediate needs of public schools, whereby RM100 million each was allocated to 822 national-type Chinese schools, 224 national-type Tamil schools, 428 mission schools, 167 Government-assisted religious schools and 32 Maktab Rendah Sains Mara (MRSM).
ReplyDeleteAll school fees were also abolished and the government would bear the cost of insurance premiums for all students of public funded schools which involved an allocation of RM150 million for the benefit of more than 5.3 million students nationwide.
ReplyDeleteThe government had also recently launched the Malaysia Education Blueprint, which contained views, recommendations and feedback, to further enhance the country’s education system.
ReplyDeletethe government had also provided double deduction incentives for expenses incurred in the implementation of training programmes by companies, effective until 2016.
ReplyDeletethe incentive had attracted more than 100 Malaysian companies to participate with more than 3,000 Malaysian students and 2,000 Malaysian professionals involved.
ReplyDeleteA SUM of RM1.2 billion will be allocated to various government agencies in the effort to provide quality pre-school education, Prime Minister Datuk Seri Najib Tun Razak said.
ReplyDeleteThe agencies include the Social Welfare Department, Education Ministry, Permata Negara and Department of National Unity and Integration which involve directly in providing pre-school education.
ReplyDeleteNajib said subsidy reduction had the support of consumers’ associations and health practitioners.
ReplyDelete