UMW Toyota Motor welcomes the recent National Budget announcement by the government on the extension and enhancement of tax incentives for hybrid cars effective from 1st January 2011 until 31st December 2011.
According to Mr. Kuah Kock Heng, President of UMW Toyota Motor, “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.“ Compared to the 2009 National Budget, import duties was given full exemption while the excise duty was given 50 percent reduction.
He also said, “Since the announcement, we have proactively reviewed our current Toyota Prius price, even though the effective date is on 1st Jan 2011. However, for the benefit of our customers we would like to announce that effective today, the Toyota Prius on the road price with insurance in Peninsular Malaysia is RM 139,900 (a drop of about RM 35,000 from the original price of RM 175,000).” The price in Sabah and Sarawak is about RM 141,500 due to higher logistics costs.
“With this, Malaysians can enjoy our most popular Hybrid car, Prius at a more affordable price. They can also benefit from the high fuel efficiency and at the same time contribute to lower the CO2 emission,” continued Mr. Kuah. The Prius is the most popular Hybrid car in the world with the worldwide sales exceeded 2 million units.
“It would be exciting to see more Toyota Prius on our Malaysian roads in the near future as more people are now aware about the effectiveness of hybrid technology,” concluded Mr. Kuah.