KUALA LUMPUR: Malaysians who own luxury cars with 1,500cc engines and below will not enjoy the RON95 petrol subsidy of 30 sen per litre, said Finance Minister Lim Guan Eng.
Lim also said the government is still finetuning the new mechanism of the subsidy, which is expected to be implemented in the second quarter of next year.
"Actually, we are still discussing the benefits (of the subsidy) so that it can be expanded to include the middle class and not just the low-income earners (B40).
"But I would like to stress here that luxury cars owners should not expect (to benefit)," he said during a press conference after attending the 2019 Budget Briefing with ministers and deputy ministers at the Parliament building here today.
Lim, in tabling the 2019 Budget in Parliament yesterday, said the government would subsidise cars with engine capacities under 1,500cc and motorcycles below 125cc.
The subsidy for qualified vehicles will be set at 30 sen per litre, and capped at 100 litres a month for cars, while motorcycles are eligible for 40 litres a month.
With this new ruling, cars that will no longer be eligible for petrol subsidies will include Proton Exora (1600cc), Proton Preve (1600cc), Proton Suprima (1600cc) as well as the soon-to-be-released Proton X70 (1800cc), based on engine capacity.
Luxury cars that have 1,500cc engines and below include the BMW 3 Series 318i Luxury, Audi A4 1.4 TFSI and the new Mercedes-Benz C200.