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With the full duty-exemption of hybrid vehicles provided for in the 2011 Budget, the two companies which have been selling hybrid cars have announced the new prices for their models. Though the duty-exemption only takes effect from January 1, 2011, both UMW Toyota Motor and Honda Malaysia have begun applying the lower prices from this month. The move is not surprising though since there would be no buyers for these two months if the prices remained unchanged and it was known for sure that prices would be lower in January.
The Honda Civic Hybrid, which has a 1339 cc engine mated to an electric motor in a package known as Integrated Motor Assist (IMA), has a new price of RM108,980 (RM1,000 more in East Malaysia), about RM21,000 cheaper than before.
As for the 3rd Generation Toyota Prius, which has a 1.8-litre engine with an electric motor in the system called Hybrid Synergy Drive, the new price is RM139,900, about RM35,000 less than its previous price. The price in Sabah/Sarawak is around RM141,500 due to higher logistics costs.
"We are very delighted with the support by the government, to extend the full exemption of import duty and full exemption of excise duty for hybrid cars,“ said Kuah Kock Heng, President of UMW Toyota Motor. He added that the Prius is the most popular hybrid car in the world with total sales having exceeded 2 million units since it was introduced in 1997.
Honda Malaysia believes that the tax incentives offered by the government will encourage more Malaysians to opt for environmentally responsible technology that is also fuel-efficient. Building on its pioneer role in the introduction of the hybrid technology to Malaysians, Honda will continue to educate and build awareness on advanced green technologies amongst Malaysians. The urgency to promote advanced technology that are fuel-efficient and reduce fuel consumption is a worldwide need to decelerate climate change and also lessen dependency on fossil energy. As such, globally, Honda is committed to continue developing technologies which are gentle on the environment yet fun to drive.
“We are pleased with the government’s decision to allow full exemption of import duty and excise duty as announced in the recent Budget 2011. The move will make hybrid vehicles more accessible for environmentally-conscious Malaysians. These exemptions are certainly timely as Honda is looking into expanding its hybrid vehicle line-up in Malaysia,” said Honda Malaysia President and Chief Operating Officer, Rohime Shafie. This particular instance of tax removal shows the effect of import and excise duties on the prices of cars, making it clear that a large portion of the money you pay when you buy a new car actually goes to the government, not the car company. Competition can push prices down only to some extent but ultimately, for prices to change significantly, the taxes imposed have to be reduced. Talk about hybrids in the MTM Forum Share this news with friends: Stay updated on new articles at this website by using Twitter. No charge to register an account.
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