Business News

Published: Saturday March 30, 2013 MYT 12:00:00 AM
Updated: Wednesday April 24, 2013 MYT 2:16:02 PM

MAA seeks longer feed-in tariff period for hybrid cars

PETALING JAYA: The Malaysian Automotive Association (MAA) wants the Government to consider a longer period for the feed-in tariff (FiT) for hybrid cars from the maximum two years approved.

President Datuk Aishah Ahmad said the association would write to the Government soon seeking for an extension.

The current two-year FiT period lapses by year-end.

“We always ask for a longer term of around five years to enable us to draw up future plans for the automotive industry,” she told reporters after MAA's AGM yesterday.

Under the current FiT, hybrid car sales had shown positive growth, as the import duty had been reduced to 0%, Aishah said.

Under Budget 2013, the Government gave full exemption for import duty and excise tax for hybrid and electric cars below 2,000cc until Dec 31, 2013.

“This concession has given a huge boost to hybrid car sales in Malaysia,” she said.

Last year, hybrid car sales soared 84% to 15,355 units from 8,334 units in 2011.

Hybrid car sales come from four carmakers, namely Toyota (5,653 units), Lexus (979 units), Honda (8,712 units) and Porsche (11 units).

Overall, new car sales in Malaysia grew 4.6% to hit a record high last year, with the total industry volume at 627,753 units. Bernama

Tags / Keywords: News, Business, Business, Malaysian Automotive Association, Datuk Aishah Ahmad, feed-in-tariff

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