Mitsubishi Motor Malaysia (MMM) has announced that vehicle prices will increase between 2 percent and 7 percent, depending on the models, in the first quarter of next year.

Chief executive officer Yang Won-Chul, in a statement today, said the price increase was due to the ringgit’s depreciation that has impacted the overall cost of vehicles.

However, he said the company would review its pricing structure if the ringgit appreciated to a better rate.

MMM is represented by 58 showrooms and 53 service outlets, nationwide, and has sold more than 90,000 vehicles since 2005.

- Bernama