Just a day before the announcement of Budget 2022 by the Prime Minister, Maybank IB Research offered their thoughts regarding the automotive sector, kind of a “Budget Wish lists” of sorts.
In a report by TheStar, Maybank IB Research hoped that the upcoming Budget 2022 would have a section dedicated to green automotive targets, as briefly mentioned by the Prime Minister during his reading of the 12th Malaysia Plan (12MP).
Apart from incentives for both vehicle manufacturers as end-users, the “Wish lists” also hopes to see providers of all things EV and low emissions be given support via attractive tax incentives, grants and tax rebates.
As such, if the conditions are very conducive, Bermaz Auto is set to bring in a range of low and zero-emission vehicles from Mazda, Kia and Peugeot, with the Mazda MX-30 EV leading the proposal, according to the research unit.
Bermaz Auto is said, “to have identified private charging operators to collaborate with on EV charging infrastructure.” Rather than outright purchase, the company also intends to offer subscription-based plans to address the cost and warranty concerns perceived by consumers.
The Mazda MX-30, similar in size to the Mazda CX-30, is the company’s first fully electric model. Power output is limited to just 145 hp and range up to 200 km via 35.5 kWh lithium-ion battery. The Mazda MX-30 EV is sized as such to provide the optimum balance between the driving range and CO2 emissions from an LCA (Life-Cycle Assessment) perspective.
The European marketing team cleverly terms it as “A car with a battery, not a battery on wheels”
Meanwhile, the Malaysian Automotive Association (MAA) hopes that the government will prolong the sales tax exemption into 2022, as it has proven to sustain vehicle sales and thus benefit the automotive industry as a whole.
“The Total Industry Volume (TIV) has still not achieved pre-Covid 19 levels. Also on MAA’s wish list is for the government to announce incentives for electric vehicles (EVs),” MAA president Datuk Aishah Ahmad told TheStar.
For the first nine months of 2021, the TIV is circa 319,000 units, approximately 8% lower than the same period last year.
The MAA expects the 2021 TIV to reach 500,00 units, but the Maybank IB Research team sees an extra 20,000 units to land at 520,000 units.