Mecedes-Benz To Maintain Prices For Now

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KUALA LUMPUR – Mercedes-Benz Malaysia Sdn Bhd will maintain prices over the short-and medium-term, despite the fluctuation in the ringgit at present.

Vice President Mark Raine said the company would do its best to protect customers and continue with the long-term pricing strategy for its brand in Malaysia.

“Like any other business, we too are affected by the fluctuation of the ringgit. Bu, we will use all the financial instruments to limit the effect as much as possible.

“We are constantly tracking and reviewing the exchange rate,” he told reporters after announcing the company’s third quarter financial results here today.

According to Raine, if the currency fluctuation remained for the longer-term, the German-based car maker may look into the possibility of re-adjusting vehicle prices for the Malaysian market.

On the excise duty exemptions for completely knocked-down (CKD) hybrid models, due at year-end, he said the company has applied for an extension period.

“We are in the process (of applying) and are quite optimistic of continuing with the current prices of our hybrid models as it is now,” he said.

On the third quarter sales performance, Mercedes-Benz Malaysia’s year-to-date car sales jumped 70 per cent to 8,196 units, from the 4,817 units sold in the same period of 2014.

As of August 2015, it successfully sold 7,194 units, surpassing the total of 6,932 units for the whole of financial year 2014, and making it another record breaking year.

Mercedes-Benz Malaysia President and Chief Executive Officer Claus Weidner said the C-Class was the top contributor towards the growth, registering 861 units sold or a 219 per cent increase in the third quarter as compared to the same period of last year. – BERNAMA