Proton trims prices of all models, with reduction up to RM1,475 for Iriz under GST

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KUALA LUMPUR (April 1): National carmaker Proton Holdings Bhd has trimmed the prices of all its models and variants, with a reduction of up to RM1,475.23 or 3.25% for the entry level model Iriz in light of the implementation of goods and services tax (GST), which comes into force today.  

According to the adjusted price list posted on its website, Proton revealed that the new on-the-road prices are imposed on all its models, including Saga SV, Preve, Exora MC2, Persona, Satria Neo, Suprima S and Iriz.

Among all these models, Iriz 1.3 CVT standard solid will now be priced at RM43,974.92, compared with RM45,450.15 before the implementation of GST. The reduction came up to RM1,475.23 or 3.25%, the highest reduction among all Proton models.

One of Proton’s best-selling models, Persona, has also seen a reduction of 0.89% or RM402.28 on the model variant 1.6 SV MT Solid. Its selling price prior to the GST was RM45,060 as compared with RM44,657.72 now.

The model that carries the least price reduction in terms of percentage is the Suprima 1.6 CVT Executive Metalic, with a drop of RM641.98 or 0.84% to RM76,119.57.

Meanwhile, the Saga has seen a price reduction of up to RM945.46 or 2.55%, while for the Preve, up to RM998.59 or 1.62% and Exora, up to RM911.22 or 1.6%.

As at 4:25pm today, shares of Proton’s parent DRB-Hicom Bhd (fundamental: 1.25; valuation: 2.2) has dipped 2.54% or 5 sen to RM1.92, with 204,900 shares changing hands.

Prior to the implementation of GST, DRB-Hicom had said in a statement dated Feb 26 this year that it anticipated a dampening of demand and sales of motor vehicles, in view of the prevailing global economic condition and the implementation of the GST.

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