KUALA LUMPUR (Jan 5): Honda Malaysia says it is unlikely to raise car prices this year, despite the slumping of Asean currencies against the US dollar, slowing domestic economic growth and the persistently weak consumer sentiment.

"We might suffer moving forward (in terms of sales margin). But, for now, there is no 'panic situation' in the [Malaysian market]. The country still registers a strong GDP (gross domestic product), crude oil prices are stabilising and the country’s trade balance is still [healthy]," Honda's assistant to the chief executive officer and chief operations officer, Shugo Watanabe, said after the launch of the Honda BR-V today.

In this regard, a hike in prices of Honda vehicles in Malaysia might not occur this year, said its managing director and CEO Katsuto Hayashi.

Honda today unveiled the all-new seven-seater BR-V crossover, which comes in two variants namely the E and V. The BR-V is priced at RM85,800 and RM92,800 — on-the-road with insurance and GST — for each variant respectively.