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NAP 2014 to transform M'sia into EEV hub, reduce car prices
by Cals Mon 20 Jan 2014, 19:00
| NAP 2014 to transform M'sia into EEV hub, reduce car prices |
| Business & Markets 2014 |
| Written by Bernama |
| Monday, 20 January 2014 18:14 |
KUALA LUMPUR (Jan 20): The revised National Automotive Policy (NAP) 2014 unveiled today aims to make Malaysia a hub for energy-efficient vehicles (EEVs) and to reduce car prices by 20%-30% over the next five years.
Under the NAP, more new national car models and variants at competitive prices will be introduced this year, said Minister of International Trade and Industry Datuk Seri Mustapa Mohamed when unveiling the much-awaited NAP.
He said the automotive policy provides for a total financial package of about RM2 billion and lays out the measures and implementation plans for its realisation.
The minister said a key objective of the NAP 2014 is to increase exports of both vehicles to at least 200,000 units and automotive components to a minimum of RM10 billion by 2020.
He said the government is also open to possible but gradual excise duty cuts when the fiscal situation permits.
On Approved Permits (APs), he said, the government has decided to conduct an indepth study to asses the impact of the termination of Bumiputera participation in the automotive industry.
The previous NAP unveiled in 2009 has specified for termination of the open AP by Dec 31, 2015 and the franchise AP by Dec 31, 2020.
"Until the study is done, the government will stick with the current APs," Mustapa added.
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