Are the prices of vehicles in Malaysia expected to go up to 30% in 2026? The Ministry of Finance (MOF), in an official statement, clarified that Malaysians who have plans to purchase a new car next year are NOT expected to pay more.
“The report regarding the sudden increase in vehicle prices starting in 2026 following the full enforcement of the New Excise Tax Regulations is inaccurate and is still under review by the government.”
MOF said that together with the Ministry of Investment, Trade and Industry (MITI) and automotive industry players, they will review methods for vehicle assessment that are fairer, more uniform, and neutral.
“This is to ensure that the implementation of excise taxes does not burden the people and maintains the competitiveness of the industry.”
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This issue has attracted widespread attention following reports suggesting a potential increase in vehicle prices that could directly impact the local automotive market, including new vehicle sales and related industries.
Do you think the vehicle prices will see an increase in the near future?
Also read: Viral Car That Was Smashed by Owner During Repossession is Now Being Auctioned at RM2,000
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This post first appeared on WORLD OF BUZZ.
