The Malaysian Affiliation of Malay Car Importers and Merchants (Pekema) has issued a request to the ministry of commerce, funding and trade (MITI) to extend the variety of accepted permits (APs) for used automobiles from 35,000 items a yr to 50,000 items a yr, on the similar import payment of RM10,000 for every AP, Harian Metro reported.

Growing the quantity of imported automobiles will profit all events concerned within the imported automobile trade and its downstream industries, stated Pekema president Datuk Mohamed Nazari Noordin, who’s assured that the transfer will increase the trade by greater than RM2 billion that’s contributed by the imported automobiles trade, and also can generate income for MITI from automobile import charges.

“The Royal Malaysian Customs Division would additionally acquire income from import and excise duties in addition to street tax. This can even generate revenue for different industries concerned such because the banking, insurance coverage, automobile guarantee sectors and extra,” Nazari stated.

In response to Nazari, the federal government’s introduction of the open AP coverage has elevated the variety of AP holders from 100 corporations to 300 corporations, and subsequently the present allocation of 35,000 APs yearly is just not ample for all Pekema members.

Nazari hopes that MITI would approve the applying from Pekema for the rise in used imported automobiles by 15,000 items, to 50,000 items yearly with a view to permit room for extra progress within the nation’s automotive market, the Pekema president stated in a press release at Pekema’s forty second annual normal assembly, which was additionally attended by minister of worldwide commerce and trade Tengku Datuk Seri Zafrul Abdul Aziz.

By way of share, the proportion of automobiles imported with open APs include simply 6.8% of the 725,000-unit projected complete trade quantity (TIV) that has been forecast by the Malaysian Automotive Affiliation (MAA).

This follows a revision of its full-year forecast in July this yr as automobile gross sales in Malaysia within the first half of 2023 grew 10.3% year-on-year to 366,067 items. As well as, not all automobiles imported by Pekema are bought the identical yr they’re imported, stated Nazari.

In the meantime, MITI will consider Pekema’s software for the rise in open APs primarily based on the most recent knowledge from Pekema in addition to from the ministry of finance, Zafrul stated. “The rise to 50,000 items [of open APs] is requested as the present restrict of 35,000 items is 30 years previous, and now not displays the present market. The ministry will refine and work with Pekema for the justification of revisiting [the 35,000 unit limit], he stated.

Trying to promote your automotive? Promote it with myTukar.