booking a honda after 30-june? expect a 6 percent increase in prices post-sst

With the current SST exemption for locally-assembled (CKD) passenger cars ending on the 30-June 2022, checks with dealers have revealed that new car prices are expected to increase by up to 6 percent, post-SST.

However, sources familiar with the matter say that SST resumption is not the sole cause of increase in prices, as increases in material and logistics costs are also a factor.

booking a honda after 30-june? expect a 6 percent increase in prices post-sst

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In Peninsular Malaysia, Honda dealers say the SST resumption will cause an estimated increase of between 1.8 to 5.3 percent, whilst additional material and logistics costs are estimated to impact another 0.5 to 1.1 percent – thus expect increases of between 2.3 percent to 6.4 percent depending on model.

In East Malaysia, material and logistic costs are expected to have a more significant impact on prices, adding between 0.9 percent and 2.4 percent, whilst SST will add a further 1.8 to 6.6 percent, increasing prices between 3 and 8 percent after SST is resumed.

booking a honda after 30-june? expect a 6 percent increase in prices post-sst

As you probably know by now, the Ministry of Finance (MoF) has announced an extension of the grace period for car buyers to register their cars to 31-March-2023, applicable only to those who have booked their cars before 30-June 2022.

Whilst these are just estimates, for now, can expect the finalised pricing of Honda models and many other manufacturers starting 1-July 2022.

Keyword: Booking a Honda after 30-June? Expect a 6 percent increase in prices post-SST

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