Prices of Toyota and Lexus vehicles to risePOSTED BY Ayisy Yusof ON 07 October 2015
DUE to the weakening Ringgit value, UMW Toyota announced that the prices of Toyota and Lexus vehicles will be increased between four to 16 per cent depending on models, takes effect January 2016.
The company has taken its strategic moves to protect the interest of its customers in the midst of the fluctuation of Ringgit, and absorbed additional cost to a certain extent over the past months.
Year-to-date, the Ringgit has depreciated by almost 20 per cent against the US dollar, making the company’s operations cost increasing.
Its president Datuk Ismet Suki said: “Since the beginning of this year, the fluctuation of the Ringgit has impacted our business as some of our parts and components are imported, resulting in an increase in overall cost of production.
“We have implemented cost-efficiency measures and reviewed our operations across the supply chain to mitigate the weaker Ringgit. The company would have implemented necessary measures to minimise forex losses impact and address the fluctuation of Ringgit if it dropped gradually. Unfortunately, the sudden and huge fluctuation of Ringgit within a short period, has given great impact to our operations.”
He also said, “We have tried our level best to keep the price increase as minimal as possible although with the increase, With the increase of our vehicle price, we could only recover partially, not 100 per cent from the impact we have been absorbing. If the Ringgit continues to slide in the near future, we may need to review our pricing structure again.
Details of the pricing adjustment for all UMW Toyota vehicles will be available in due course. For more information, visit www.toyota.com.my or call at 1800 88 69682.