SHAH ALAM: UMW Toyota Motor (UMWT) says there are no planned increase in prices of Toyota CKD (locally-assembled) models.
In a statement, UMWT stated that earlier in the year, the Finance Ministry had assured that if any CKD model was affected by increased prices as a result of the transparent methodology of reporting the Open Market Value, the increase would be fully absorbed/exempted by the Finance Ministry during 2020.
UMWT president Ravindran K said that factors such as exchange rates and tax revisions can affect prices but as far as possible, the company has always tried to maintain price stability by absorbing the increases as much as possible.
The CKD models in UMWT’s current line-up are the Toyota Yaris, Vios, Rush, Hilux, Fortuner, Innova and Hiace.
