UMW Toyota Motor (UMWT) has confirmed that there are no planned increase in prices of its locally-assembled (CKD) models at this time.
Earlier in the year, the Finance Ministry gave assurance that if any CKD model was affected by increased prices as a result of the transparent methodology of reporting the Open Market Value, the increase would be fully absorbed/exempted by the Finance Ministry during 2020.
In a statement, UMWT President Ravindran K said that factors such as exchange rates and tax revisions can affect prices but as far as possible, the company has always tried to maintain price stability by absorbing the increases as much as it can.
The CKD models in UMWT’s current line-up are the Yaris, Vios, Rush, Hilux, Fortuner, Innova and Hiace.
