Mitsubishi Motors Malaysia to hike vehicle prices

Kuala Lumpur: Following the announcement made by Honda Malaysia, Edaran Tan Chong Motor and UMW Toyota Motor, Mitsubishi Motors Malaysia (MMM) today announced that prices for Mitsubishi vehicles will increase effective first quarter of 2016 due to the depreciation value of the Malaysian Ringgit (MYR) that has impacted the overall cost of the vehicle.

The announcement is said to see about 2 to 7 percent increase depending on the model. However, it also said Mitsubishi will review its pricing structure again if the Ringgit appreciates to a better currency.

“Despite all adversities, rest assured that MMM will continue to offer attractive on-going deals and promotions for our customers. MMM remains committed to provide all Malaysians with a pleasant ownership and value-for-money cars,” said Chief Executive Officer (CEO) of MMM, Mr. Yang Won-Chul.

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At the moment, MMM has yet to provide details of the pricing adjustment for all Mitsubishi vehicles but if the Malaysian Ringgit appreciates to a better currency, the company will review its pricing structure again. Since 2005, Mitsubishi Motors Malaysia has sold more than 90,000 units in the country. The ASX 2WD and 4WD compact SUV is locally assembled in Malaysia while the other Mitsubishi models are imported as CBU (Completely Built-Up) units from Thailand (compact hatchback Mirage, compact sedan Attrage, Pajero Sport SUV, Triton pick-ups) and Japan (Lancer). For final prices of these vehicles, we have to wait for some more time. But, as an estimation, 2-7% can be considered for the moment.

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