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Tax-Exemption On EVs Is Extended After All

It seemed surprising that when the Prime Minister/Finance Minister presented Budget 2023 yesterday, there was no mention of any matters related to the auto industry. In particular, the auto industry was waiting to hear about the extension of the tax-exemption for electric vehicles (EVs) which had been proposed in October. Back then, the proposed Budget 2023 by the previous government had extended the exemption for CBU (completely-built-up) EVs for one more year, ie till the end of 2024. However, as the Budget was not tabled in Parliament, it was not confirmed which is why we had the new one presented yesterday.

The Finance Ministry, through its website, had also posted information regarding this matter as part of the revised Budget 2023 Touchpoints and it’s good news. The exemption of excise and import duties for EVs imported in CBU form will continue till the end of 2025. For companies that assemble EVs locally, the exemptions will be provided till the end of 2027, along with full import duty exemption for components used in the assembly of the EV models. Incidentally, EVs in this case refers only to battery electric vehicles and fuel-cell electric vehicles and not electrified vehicles such as hybrid (HEV) or plug-in hybrid vehicles (PHEVs), for which there are other incentives given.

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Countdown To Launch Of All-New Toyota Vios Starts With Order-Taking From Today

The countdown for the launch of the all-new Toyota Vios in Malaysia has started. Following past practice, UMW Toyota Motor (UMWT) has announced that customers can book the new model from today at all authorized Toyota dealerships nationwide. This means that the launch should take place within a month, going by the usual time-frame for most companies.

The new generation, which has been in the regional market less than a year, shows a big departure from the design language used in previous generations. Like the other new Toyota models we’ve seen in recent times, the appearance is more aggressive like the latest Camry. It also looks sportier with the fastback silhouette giving a stretched look.

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Budget 2023 – Silence On Auto Industry Matters

Budget 2023, the first one presented by Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim, seems to have contained nothing on auto industry matters this time round. Unlike the last one which sparked off a rush to introduce EVs (electric vehicles) with full tax exemption for a few years, this Budget did not offer anything new.

Nor was there confirmation of what had been mentioned in the Budget last October (which was not tabled in Parliament) – the extension of the tax-exemption for CBU (completely built-up) vehicles beyond December 31, 2023. While the exemption is until the end of 2025 for locally-assembled EVs, the car companies are hopeful that there can be a longer period CBU models to encourage more widespread adoption in the country.

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Interior Of New Mercedes-Benz W214 E-Class Revealed First

When introducing a new model, car companies often mention how it was designed from ‘the inside out’. Now the Mercedes-Benz PR people are also taking that approach in introducing the next generation of one of their core models, the E-Class. The first official pictures and details of the new W 214 series, to be launched later in the year, are not of the exterior but the inside.

In particular, Mercedes-Benz is providing a preview of the cabin appearance and all the digital innovations customers can expect. The electronic architecture is more software-driven and less hardware-driven, which allows for more individual updating of the interior systems in the future.

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9th Consecutive Year For Isuzu As Bestselling Truck Brand in Malaysia

As Malaysia continues its recovery from the depressed years of the pandemic, new vehicle sales are also growing. Last year’s record Total Industry Volume of 720,658 units – the highest ever since the Malaysian Automotive Association began keeping records in 1967 – already indicated the upward trend.

While the commercial vehicle segment’s share remained at 11%, the total number of vehicles sold rose (compared to 2021) by 39.9% or 22,488 units to reach 78,885 units. Within this segment, Isuzu Malaysia Sdn Bhd (IMSB) again topped the list of brands with combined retail sales of 6,546 units, including light, medium and prime mover trucks.

It was the highest ever volume in the company’s history while capturing the market-leading position again as Malaysia’s top-selling truck brand for the 9th consecutive time and also the top-selling light-duty truck for the 13th time.

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More Details of Malaysia Autoshow 2023 Announced

As reported earlier, the Malaysia Autoshow will be on again after not being able to be run from 2020 to 2022 due to the COVID-19 pandemic. The event, organised by the Malaysia Automotive, Robotics and IoT Institute (MARii), will be held from May 4 – 7, 2023 at the Malaysia Agro Exposition Park Serdang (MAEPS) outside Kuala Lumpur.

Officially launched today, the Malaysia Autoshow 2023 has the theme of ‘Mobility Redefined’ and will not be just the usual car show as it will include all aspects of the auto industry. Besides having the latest models, there will also be displays showcasing new technologies, particularly those related to mobility.

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