Is Now A Good Time To Buy A New Car In Malaysia? Stable Prices & EV Trends Explained
If you’ve been holding off on buying a new vehicle due to rumors of impending tax-driven price hikes, here is some welcome news: Car prices in Malaysia are set to remain stable through the end of 2026.
With the government postponing major automotive tax policy changes, combined with a massive surge in new model launches, current market conditions make this one of the safest windows in years to purchase a new vehicle.
Data from the Malaysian Automotive Association (MAA) reveals a booming first half of 2026, with overall vehicle sales rising by 3% to 385,353 units. Here is a breakdown of why prices are safe and how buying trends are shifting across Malaysia.
Key Article Takeaways
- Car Prices Are Safe: OMV tax policy updates have been delayed to end-2026, protecting buyers from mid-year price hikes.
- EV Sales Booming: Electric car sales grew by 106% in 1H 2026, officially on pace to out-sell hybrid vehicles for the first time.
- Shift in Taste: SUVs are up 19% while pick-up trucks fell 19% following diesel subsidy adjustments.
1. Why Car Prices Are Guaranteed Stable Through 2026
The biggest concern for many prospective buyers has been the proposed revision to the Open Market Value (OMV/402) excise duty methodology, which could have increased prices for locally assembled (CKD) vehicles.
🏷️ Price Guarantee Until End of 2026
The government has officially extended the OMV tax revision deferment. Manufacturers can maintain current pricing without sudden tax-driven increases.
However, MAA President Mohd Shamsor Mohd Zain confirmed that the Ministry of Finance (MOF) and MITI have officially extended the deferment period to the end of 2026.
"The postponement of the OMV/402... and the new customised incentive has provided greater certainty to manufacturers and distributors, allowing our business operations and sales activities to continue without immediate disruption."
— Mohd Shamsor Mohd Zain, MAA President
Furthermore, the government has committed that when the new calculation method is eventually finalized, it is being designed to have minimal to zero impact on car retail prices. This extra breathing room gives buyers complete cost predictability for the rest of the year.
Read: Another 6 Months Of No Price Hikes! Here’s The Latest On The CKD Tax Revision
2. EV Demand Surges By 106%
While overall vehicle sales grew at a steady 3%, the electric vehicle (EV) segment experienced monumental growth.
Malaysians purchased 26,192 battery electric vehicles (BEVs) in the first half of 2026, a 106% year-on-year jump from 12,733 units in 1H 2025. 2026 is officially on track to be the first year EVs outsell hybrid vehicles in Malaysia!
⚡ What Is Driving Malaysia's EV Boom?
- • More Choice at Accessible Prices: Mass-market entries like Proton’s e.MAS 5 (10,665 units sold) and e.MAS 7 (2,865 units sold) have effectively brought electric mobility down to everyday price points.
- • Maturing Ecosystem: Charging infrastructure across key highways (such as PLUS) and major urban hubs continues to expand, rapidly easing range anxiety for daily commuters.
- • National Brand Trust: The entry of trusted local automakers into the EV space has bolstered buyer confidence in long-term parts availability, maintenance, and warranty support.
3. Market Trends: SUVs Rise While Pickups Take a Hit
Buying habits among Malaysians are clearly shifting across vehicle categories:
National Dominance: Local favorites Perodua and Proton captured 67% of total vehicle sales in 1H 2026, up from 63% last year. Non-national brands now hold 33% of the market.
Should You Buy Now or Wait?
If you're asking whether now is a good time to pull the trigger on a new car purchase, the short answer is yes.
- Zero Price Shock Risk: With OMV tax updates pushed back to end-2026, you won't face sudden price hikes on popular CKD models during booking or delivery.
- Aggressive Dealership Offers: With MAA raising its full-year sales target to 800,000 units, car brands are actively competing with attractive packages, trade-in deals, and promos.
- Best Window for EV Buyers: If you’re considering going electric, the market currently offers the widest range of options, localized support, and tax exemptions seen yet.
Written By
Sofea Najmi
A Bachelor of English Language and Literature graduate with an obsession for the finer details. Sofea uses her background in translation to decode the technicalities of automotive innovation. She is dedicated to delivering impactful, meticulously researched articles that provide a narrative far beyond the spec sheet. LinkedIn: https://bit.ly/3C018vv
JPJ Running Numbers
KUALA LUMPUR
VRU8709
SELANGOR
BSU5416
JOHOR
JG2045J
PULAU PINANG
PSG6453
PERAK
APM4216
PAHANG
CFJ1895
KEDAH
KGJ5443
NEGERI SEMBILAN
NEM3599
KOTA KINABALU
SJU6455
KUCHING
QAB7995P
Last updated 22 Oct, 2026
Fuel Price
Petrol
RON 95
RM 3.97
+1.38
RON 97
RM 4.90
+1.75
RON 100
RM 7.20
+2.20
VPR
RM 8.23
+2.00
Diesel
EURO 5 B10
RM 5.12
+2.08
EURO 5 B7
RM 5.32
+2.08
Last updated 30 Apr, 2026
Latest News
Proton's Exports Are Growing, But Not All The Cars Wear Proton Badges
Proton exported 7,370 vehicles in the first nine months of 2026, including Geely cars built in Malaysia. Here's why it matters for Tanjong Malim.
21-10-2026
6,537 Road Deaths In 2025 - Can Malaysia's New Safety Push Make A Difference?
Malaysia recorded 6,537 road deaths in 2025. With a new MOT-MIROS proposal underway, can the country meet its target to halve fatalities by 2030?
20-10-2026
ECRL Vs Driving To Kota Bharu: Petrol, EV Or Train, Which Costs Less?
ECRL fares to Kota Bharu start at RM125. We compare train tickets with petrol and EV energy costs to see which option makes more sense.
19-10-2026
"We'd Love To Go Back": Mercedes Eyes Sepang Return As F1 Night Race Idea Emerges
Mercedes-AMG Petronas F1 wants to return to Sepang, while Signify says a night race is technically possible. Could Malaysia's next F1 race be after dark?
19-10-2026
RM52,000 In Car Rebates? Sime Motors' 3-Day Sale Is Now On!
Sime Motors' 3-day sale runs from 16 to 18 October 2026 in Ara Damansara, with car rebates up to RM52,000, test drives and special offers.
16-10-2026
RM950 Million From F1 At Sepang. So Why Is Malaysia Still Hesitating?
F1 at Sepang generated nearly RM950 million in economic impact. But a five-year Malaysian GP deal could cost RM1.5 billion. Here's why.
16-10-2026
35 Cars Daily! BYD's New Miri 3S Centre Puts Aftersales In Focus
BYD's new Miri 3S Centre can service up to 35 cars daily. Here's how the latest Sarawak expansion strengthens aftersales support for EV owners.
15-10-2026
Chery Omoda 5 Recall: 600 Cars In 2024, 8,878 In 2026. What Changed?
Chery's Omoda 5 recall covers 8,878 vehicles, compared with 600 in 2024. Here's what changed, what remains unknown and what owners should do.
15-10-2026
Show More
trending_flat
Malaysia First Used Car and EV Consignment Platform
This is the best place to sell your car at true market value. Instead of accepting low dealer trade-ins, we handle everything and connect your car directly to genuine buyers for the highest price.
Understanding CariCarzAutomall Consignment Plan
Approved 200-Check Points Inspection
7 Day Money Back Guarantee
One Year Extended Warranty
No Hidden Charge