Seems like there’s only one natural move following the weak performance of the Ringgit against other currencies as of late. Mitsubishi Motors Malaysia has today announced that prices for Mitsubishi vehicles will increase and will take effect during the first quarter of 2016.
The economic climate that Malaysia is weathering at the moment makes it tough on the auto industry as a lot of their dealings for parts, logistics, and labour are conducted in foreign currencies.
While Mitsubishi Motors Malaysia (MMM) did not disclose much during the announcement, they did reveal that the estimated increases were to be between 2 and 7 percent depending on the model.
“Despite all adversities, rest assured that MMM will continue to offer attractive on-going deals and promotions for our customers. MMM remains committed to provide all Malaysians with a pleasant ownership and value-for-money cars,” said Chief Executive Officer (CEO) of MMM, Mr. Yang Won-Chul.
MMM also added that should the Ringgit start to appreciate to a more valuable standpoint, the company will once again review its pricing structure.
Let’s hope that upturn comes sooner rather than later.