What’s in store for motorists
MALAYSIA is a developing nation that sees substantial growth in its economy every year. However, this would not have been possible without established infrastructure and modes of transportation to keep people moving from one place to another.
Constant improvements to the transportation systems are to be expected.
With almost one-third of the year gone, what is in store for Malaysia’s automotive industry and what can consumers expect in the remaining months?
Here is a list of changes we can expect.
Encouraging greater energy efficiency – The Government has
With the rise of travelling cost, the younger generation sees no point in owning a car or more than one car.
done a good job in introducing energy-efficient vehicles (EEVs) to the country. As a result, Malaysians are now more aware of efficient vehicles and technologies. Expect a higher grade of EEV rulings to be introduced to promote more efficient vehicles such as emission-based taxes.
Detariffication of motor
insurance – Bank Negara has allowed the detariffication of motor insurance, which was accepted positively by the insurance industry.
To ensure the change is gradual and does not create a big impact to consumers, the industry is limited to a 10% price change from previous tariffs.
The initiative has encouraged insurance companies to introduce more creative products for consumers. Expect the 10% limit to be increased in future.
Owners control the premium of their motor
insurance – With detariffication of motor insurance, factors such as driving attitude, car maintenance, location of car being parked and mileage will determine the rate of one’s insurance premium. These are all variables that can be controlled by the owner.
A modern toll system – While our road system is among the most modern in the region, the payment method is dated. With Bank Negara approving the Alipay e-wallet system to be used with Touch ‘n Go, you can soon reload your Touch ‘n Go card online.
Big cities will see less car
sales – With the rise of travelling cost, the younger generation sees no point in owning a car or more than one car.
With the nation’s public transportation system undergoing upgrades and ride-sharing platforms getting more popular, many individuals will find no need to drive as much as before. This trend can already be seen in Europe and the United States.