{"id":20727,"date":"2015-12-11T11:18:50","date_gmt":"2015-12-11T03:18:50","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=20727"},"modified":"2023-06-07T13:05:29","modified_gmt":"2023-06-07T05:05:29","slug":"more-expensive-proton-cars-in-2016","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/more-expensive-proton-cars-in-2016","title":{"rendered":"More Expensive Proton Cars in 2016?"},"content":{"rendered":"<p>Proton Holdings Bhd is consider raising the prices of its cars from 2016, due to the weakening Ringgit.<\/p>\n<p>According to Proton, many raw materials are purchased in foreign currency. The weaker Ringgit affects the company\u2019s operation cost and the entire eco-system chain, including vendors.<\/p>\n<p>To cushion the impact, which has been impacting Proton\u2019s bottom-line since August 2015, Proton has put in more effort into reducing operational costs and rationalising operations.<\/p>\n<p>Despite these efforts, the weakening Ringgit continues to put pressure on Proton and is affecting the automobile industry as a whole.<\/p>\n<p>However, Proton is now the midst of evaluating their price structure. The percentage of the price increase will vary according to the different models.<\/p>\n<p>The price increase is seen as an industry situation as prices would need to be raised to compensate for the effect of the lower Ringgit.<\/p>\n<p>Ringgit, Asia\u2019s worst performing currency, has slumped over 20% in 2015 following the drop of global crude oil and commodity prices. The Ringgit is currently trading at around 4.26 against the US Dollar (at the time of writing), a 23.5% drop from 3.45 at the beginning of 2015.<\/p>\n<p>Ringgit\u2019s depreciation has impacted all automotive players\u2019 operating costs. Car sales for the first 10 months of 2015 has slowed down due to weak consumer sentiment.<\/p>\n<p>Many car manufacturers and distributors such as UMW Toyota Motor Sdn Bhd, Perusahaan Otomobil Kedua Sdn Bhd, Honda Malaysia and Nissan Malaysia have hinted at the possibility of a price increase in 2016 due to the weak Ringgit.<\/p>\n<p>However, Mazda Malaysia, Audi Malaysia and Mercedes Benz Malaysia plan to retain their current car prices in 2016 unless the Ringgit weakens further.<\/p>\n<p>[<a href=\"http:\/\/www.thestar.com.my\/business\/2015\/12\/08\/proton-might-raise-prices-due-to-weakening-ringgit\/\" target=\"_blank\" rel=\"follow no noopener\">Source 1<\/a>] [<a href=\"http:\/\/www.nst.com.my\/news\/2015\/12\/116230\/proton-mulls-price-increase-2016\" target=\"_blank\" rel=\"follow no noopener\">Source 2<\/a>] [<a href=\"http:\/\/themalaysianreserve.com\/new\/story\/proton-%E2%80%98under-pressure%E2%80%99-raise-car-prices\" target=\"_blank\" rel=\"follow no noopener\">Source 3<\/a>]<\/p>\n<h6><em>Image from asiancorrespondent.com\u00a0<\/em><\/h6>\n<h3 class=\"product__name\"><strong>Enjoy up to 5% cashback on your petrol spending and\u00a012 months 0% interest for your road tax payment with\u00a0<a href=\"https:\/\/www.imoney.my\/credit-card\/ambank\/visa-platinum-carz-card\" target=\"_blank\" rel=\"noopener\" data-description=\"4\" data-region=\"Top 10 Non-Featured Card\" data-action=\"Click\">AmBank Carz Platinum Visa<\/a>!<\/strong><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>Proton is considering increasing the prices of its cars starting January 2016, due to the weakening Ringgit.<\/p>\n","protected":false},"author":29,"featured_media":20728,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[237,216,284],"tags":[],"class_list":["post-20727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-autos","category-news-updates","category-ringgit"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>More Expensive Proton Cars in 2016? 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