Good news guys! Datuk Seri Azalina Othman Said from the Prime Minister’s department announced that car prices will drop 30% by 2018.
In a written reply to Lim Lip Eng (Segambut DAP)’s question on the status of the government’s promise to reduce car prices and toll rates made in the 13th General election, she stated that the reduction will be done in stages, starting from a 20% mark
This initiative has undertaken various efforts to happen, including the granting of incentives to reduce the amount of exile tax payable to companies of car manufacturers involved in local-added automotive components.
“These incentives are seen to be beneficial as the total price reduction recorded in 2013 was three per cent, followed by seven per cent in 2014 and 2.7 per cent in 2015,” she said.
Regarding the toll rates, Azalina said the government has been negotiating with highway concessionaires to reduce the rates since 2008. They are currently finding the best way to achieve a “win-win” situation for all parties, namely the government, concessionaires, investors and consumers.
“Among the results of the negotiations to date are; to postpone an increase in highways toll rates since the past eight years, from 2008 until Oct 14, 2015. Other results included abolishing toll collection and early closure of eight tolls in six highways, and a revision of the toll mechanism” she said.