Mazda: No Price Hike Unless Ringgit Breaches RM3.80 TO JPY100

Bermaz, the distributor of Mazda vehicles in Malaysia, will not be raising the prices of its cars for now, reports The Edge Financial Daily.

The daily quoted Bermaz’s CEO Datuk Seri Ben Yeoh as saying that the company will try its best to maintain its current prices, but does not discount the possibility of a price hike if the Ringgit’s value drops further, beyond RM3.80 to JPY100.

The Ringgit is currently trading at RM3.49 to JPY100.

Yeoh told The Edge, “[As we move] towards the end of the year, we are trying to hold back for customers. There is no point for us to increase the price under the current economic environment.

“If (the price of) everything starts to increase, it will not be good for the economic environment. [So] we will maintain the current selling price by reducing other expenses.”

Unlike UMW Toyota Motor, which trades mostly in US Dollars, Bermaz (and its assembler Mazda Malaysia) trades mostly in Japanese Yen.