Toyota Ties Camry Hybrid Builds to Malaysia Tax Cuts
Executive Summary
The automaker would be building Camry hybrids locally as early as mid-2014 if the government extended tax-exemption incentives for hybrids beyond Dec. 31, Toyota Malaysia President Ismet Suki says in a published report.
Toyota intends to assemble hybrid Camry cars in Malaysia next year, if the government extends tax breaks for hybrids beyond this year.
Toyota Malaysia President Ismet Suki tells reporters the automaker is studying the possibility of assembling complete-knocked-down hybrid models in the country.
“If the government were to approve our request to extend the tax-exemption incentives for hybrid cars beyond 2013, by the middle or third quarter of 2014 we will have a Camry hybrid” assembled locally, The Sun Daily newspaper quotes him as saying.
The government last year exempted hybrid and electric vehicles with engines smaller than 2.0L from import duty and excise tax until Dec. 31. Ismet says local assembly depends on what kind of incentives the automaker can get afterward.
“If not, it doesn't make sense to bring in a hybrid car,” he says. “You pay so much for it and it won't attract consumers to…the hybrid. It also defeats the government's intention to make Malaysia an energy-efficient-vehicles hub.”
Toyota rival Honda already is assembling the Jazz hybrid in Malaysia.
Toyota Malaysia Deputy Chairman Takashi Hibi tells The Star newspaper the automaker’s decision to locally assemble the Camry hybrid will depend on incentives included in the revised National Automotive Policy, expected to be announced soon.
Hibi says the automaker has indicated the Camry hybrid CKD assembly line could be ready by the middle or third quarter of next year.
“The Camry hybrid could be priced higher than the conventional Camry with the 2.5L (gasoline) engine, but we recognize the needs of our customers who are more environmentally concerned,” he says. “That is why we are planning to introduce the hybrid variant.”
