KUALA LUMPUR: Malaysia Automotive Association (MAA) president Datuk Aishah Ahmad says the automotive sector is currently feeling the impact of the sliding ringgit as margins are eroded and profits get squeezed.
“It is up to the respective carmakers whether they wish to raise their prices.
“They would have to weigh the pros and cons and decide whether they want to absorb the exchange rate losses.
“The automotive industry is definitely impacted and margins are eroded, that’s for sure.
“And it is understandable if the consumers hold back from making big purchases such as owning a car,” she told Business Times recently.
When asked on what the government can do to help ease the impact, Aishah said duty structures and capping of exchange rates could be relooked at as these were the main cause of the hard-hitting impact on carmakers.