Perodua will not increase prices of existing models in 2023; 'as long as we can withstand, we will,' says CEO –

There have been some upward movement in car prices this year as costs rise, but market leader Perodua has vowed to maintain its prices in 2023.

“For Perodua’s existing models, although there’s an increase in material prices, we will maintain our prices, at least for this year,” said Perodua president and CEO Datuk Seri Zainal Abidin Ahmad at the company’s 2023 outlook event yesterday.

Perodua will instead use its “own internal cost reduction for us to manage” and “there must be a way for our vendors to also reduce costs, whether from overhead reduction or whatever,” he added.

P2 has been consistent with its stand to not increase prices. “We hope material prices and fuel prices remain manageable; at the same time, we also hope that foreign exchange and interest rates would be favourable to industry growth,” Zainal said last month, adding that if these factors remain “within acceptable levels”, Perodua will maintain its vehicle prices.

As for the jump in price from old Axia to the upcoming D74A Axia, the P2 chief stressed that the higher price is due to the car being bigger, safer and better equipped than before. It’s not due to the “impact of inflation or material costs”, he said.

“As long as we can withstand (bertahan), we will withstand,” Zainal declared, adding that his personal forecast is that cost of materials will peak this year and will start to come down by mid-year.

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