Auto sector hit by low ringgit, foreign marques price expected to rise

Local edge: Buyers checking out a car in a Perodua showroom. The market perceives that players like Proton and Perodua have higher localisation rates.

PETALING JAYA: The perfect storm which has passed over the country’s economy and markets has begun to see an unintended consequence on the automotive industry.

The sector, which was already suffering from a lack of interest from consumers due to the implementation of the goods and services tax earlier this year and lacklustre demand, is now grappling with the increase in input costs due to the ringgit’s weakness.