Malaysians are known to complain that they are being made to pay too much for new cars, with the high tax imposed to be blamed. Actually, they would be paying even more were it not for the incentives that the government has been giving for Energy Efficient Vehicles (EEVs) produced locally. A provision under the current National Automotive Policy, these incentives help assemblers offset production costs and 100% of the savings must be passed on to consumers in the form of lower retail prices.
Almost 5 times the Malaysian price!
So imagine how Singaporeans must feel to have to pay S$64,800 for the latest Perodua Myvi that was recently launched in Singapore. That price is equivalent to RM197,083 or 4.7 times more than what Malaysians pay for the same model. And for that money, Malaysians would be able to buy a larger model like the latest Toyota Camry.
The Myvi priced at S$64,800 is the cheaper of two that Perodua is offering, with a 1.3-litre engine. The other variant is the Myvi 1.5H which is priced at S$69,800 (around RM212,301).
CoE bumps up the prices
High prices for small cars are not unusual for Singaporeans though and while the cost of the car itself is not high, it is the Certificate of Entitlement (CoE) – valid for only 10 years – which is what bumps up the price paid so substantially. This is applicable to every brand in the market so while it does discourage purchases, no carmaker complains since everyone is affected equally.
“The Perodua Myvi has been very well received by Malaysians, and the enthusiasm has also found its way to Singapore, where there is a niche yet loyal cult following eagerly awaiting the arrival of the third-generation model,” said John Ng, MD of Perocom Auto Pte Ltd which is the sole Perodua distributor in Singapore.
Perocom Auto has been representing the Malaysian carmaker since 1997 and has sold the Kancil, Kembara, Kelisa, first-generation Myvi, Viva, Axia and Bezza.
“The current-generation Myvi’s foray into Singapore is significant in terms of brand presence despite the high barriers for entry into this mature market. This also marks the model’s first export destination under the Perodua brand,” said Perodua President & CEO, Dato’ Zainal Abidin Ahmad.
However, the current and previous Myvi have been exported to Indonesia but sold under the Daihatsu brand there and known as the Sirion. The fact that Daihatsu chose to import the Myvi and sell it under its own brand says a lot about the quality standards at the Perodua plant. The Japanese brands have a hard-earned reputation for quality which they work hard to protect so they would not be willing to risk damaging that reputation if the quality was not of the highest standard.
Visit www.perodua.com.my to know more about the Myvi and other models.