No reduction in car prices not a shocker, says MAA
Prime Minister Dr Mahathir Mohamad's recent statement that car prices will not decline when the Asean Free Trade Area (Afta) agreement comes into effect in 2005 did not come as a surprise to the local automotive industry.
"The prime minister and (International Trade and Industry Minister) Datuk Rafidah Aziz had always indicated that we should not expect lower prices," said Malaysian Automotive Association (MAA) president Aishah Ahmad when contacted yesterday.
MAA represents the interests of motor traders in the country and liaises with the government on important issues pertaining to the automotive industry.
On Thursday, Mahathir slammed the brakes on the hopes of many prospective car buyers who anticipated prices to decline following Afta.
Import duties on 'completely knocked down' (CKD) and 'completely built-up' (CBU) cars are expected to be capped at five percent by 2005.
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