How Much Would Tesla Cars Cost If They Were Available In Malaysia?

How Much Would Tesla Cars Cost If They Were Available In Malaysia?

Written by: Song Hui Jin

According to Morgan Stanley, it forecasts that Tesla may be opening 5 new auto plants. The new auto plants will cater to India, ASEAN, Northern/Central Europe, and the U.S. And yes, the ASEAN plant is particularly important to Malaysia. Sadly, there’s no real way to get concrete numbers as to incentives and taxes unless you’re already familiar with the market.

As of today, Tesla doesn’t have an actual presence in our country aside from parallel importers and other random players. Unfortunately, there isn’t a strong demand for Tesla vehicles at existing grey market prices. Plus, there’s no proper national agenda for a charging station network. DS&F speculates that the company will just end up making cars in Thailand, Indonesia, and Singapore. Tesla also just recently launched in Singapore and delivered its first order just last July.

You’ve probably heard and maybe seen a couple of Tesla vehicles on the road, especially the Tesla Model 3, as there are units ready in Johor Bahru. That’s because a local dealer, Kasawari seemed to have stocked up on a couple of Tesla units. Based on the offers on a brochure back in 2020, the price for Tesla Model 3 Standard Range Plus is RM385k. The Tesla Model 3 appears to be the most affordable and most popular model in the Tesla range.

However, Kasawari offered the Long Range, All-wheel Drive Performance variant. They offered one in a standard white colour and the other in the red multi-coat version.

The white Tesla car is going for RM510,000 while the red unit is going for RM530,000!

For the price, it comes with a localized warranty, a wall charger, and standard charging accessories as well. On top of that, all Over-The-Air updates for the cars are guaranteed to come in with a system set up.

According to an article by Paul Tan, UK-sourced units can be ordered in Malaysia which will cost around RM390k for the Standard Range variant and around RM450k for the Long Range Performance variant. This is as close of a speculated price we can get to having Tesla vehicles sold in Malaysia. 

The real question is, will Tesla include Malaysia in their ASEAN Plants plan that was said to begin in 2024? While we are still trying to figure out the numbers, every other country in ASEAN seems to already have some sort of blueprint for Electric Vehicles. The Malaysian government needs to begin thinking about more transparent policies for foreign investors. Because of the National Automotive Policy 2020, major investments in the automotive sector bypassed Malaysia for other neighbouring countries in the region. 

An example would be the Hyundai Motor Group, they picked Indonesia for its very first plant in ASEAN and another high-tech EV facility in Singapore. The company also closed its Asia & Pacific Regional Headquarters in Malaysia and moved it to Jakarta, Indonesia.

Let us know how much do you think Tesla cars would cost in Malaysia, and do you think Elon Musk will open a Tesla auto plant here? Who know’s right since Tesla just recently became a company worth 1 trillion dollar!

P/S: It doesn’t matter if you drive a Tesla or a Myvi, you would still to make sure your car is insured! Grab our RENTAS150 promo to get RM150 off your car insurance today!

*The content provided is for informational purposes only. FatBerry makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. Should you require more information on our products, please refer to fatberry.com or contact us.

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Cheat Sheet For Beginners on No Claim Discount (NCD)

Cheat Sheet For Beginners on No Claim Discount (NCD)

At some point in our lives, we will have our own car. As much as it sounds exciting, it also comes with a certain responsibility, including knowing all the essential information.

For newbies, NCD, betterment and insurance may seem intimidating at first but you can easily understand them once you get the hang of it. If you want to attain thorough information about NCD, you’re in the right place.

Below, we have gathered all the necessary deets and answers to the most frequently asked questions.

What is No Claim Discount (NCD)?

No claim discount or commonly known by its abbreviation NCD refers to an insurance discount that is given to individuals who didn’t make any claim for a year. It also includes the absence of third party claims made against your policy.

The rate of NCD is set and fixed by the Persatuan Insurans Am Malaysia (PIAM) Motor Tariff. NCD is not available during the first purchase of your  insurance policy. However, you can choose to transfer the NCD of any existing vehicle registered under your name to the new vehicle.

The maximum rate of the NCD is 55% which is eligible for those who managed to keep a clean free record for 5 consecutive years.

Needless to say, NCD is the core of insurance as it allows you to enjoy up to 55% discount on the insurance cost.

What’s the rate of NCD in Malaysia?

Period

Private Car

Motorcycle

Commercial Vehicle

1st year

0%

0%

0%

2nd year

25%

15%

15%

3rd year

30%

20%

20%

4th year

38.33%

25%

25%

5th year

45%

25%

25%

After 5th years

55%

25%

25%

The table above states the NCD rate in Malaysia, and the amount differs depending on the type of vehicle you’re using.

The rate for private cars and motorcycles is not the same as those who own private cars can enjoy the highest rate of NCD, which is capped at 55%. Whereas for motorcycles and commercial vehicles, the maximum NCD rate is only 25%. 

Based on the table, the rate of NCD will increase annually, and this reward is given to vehicle owners for being a safe driver.

As an example, if you receive a quotation with a basic premium of RM5,000 with 30% NCD, you can save up to RM1,500. If you manage to keep a claim-free record until the NCD increases to 55%, you can enjoy a whopping RM2,750 discount. Well, isn’t that great?

How To Check Your Car NCD?

Apart from referring to your previous insurance policy, you can easily check the rate of your car NCD online.

One way to do that is on our website! You just have to fill out your vehicle information. Do note that you can only check your NCD on fatberry.com if your insurance policy is expiring within 2 months. If your insurance policy is not expiring anytime soon, you can also head over to MyCarInfo.

However, make sure that the information matches with the registered details on the Malaysia Road Transport Department. Do note that some people opt for the special ID instead of their NRIC when they register their vehicle details.

Hence, if you’re a public servant, particularly an army or policeman, remember to recheck the actual ID that you used.

Does Windscreen Affect My Car Insurance NCD Rate? 

One of the most common questions that people frequently ask about NCD is whether or not claiming a broken windscreen affects the NCD. Well, it actually depends on several situations:

If you didn’t add on the windscreen insurance:

Although you can claim the replacement of the broken windscreen from your insurer, it can affect the NCD rate as it is considered as a claim. Hence, it is recommended that you include the windscreen insurance whenever you purchase one. 

If you already have a windscreen insurance: 

For those who have included this add on, you can simply claim for the windscreen replacement without having to worry about the deduction. The cost of such replacement has been covered by the add on

On another note, if you decide to pay for the cost incurred for the broken windscreen, it will not affect the rate of NCD.

How to Transfer the NCD to Another Vehicle? 

As we have mentioned earlier you can transfer the NCD of your existing vehicle to a newer one. Generally, it is recommended that you do this to enjoy a discount price of the premium cost.

As new vehicles tend to have a high premium due to the stipulated insured value, transferring the NCD is the ultimate way to save your money. Please note that you cannot transfer the NCD of your car to the motorcycle or vice versa. It can only be done for similar types of vehicles. 

Once the NCD has been transferred, the old vehicle will automatically have 0% NCD. However, the car insurance NCD rate will increase accordingly if no claim has been made within the 12 months.

If you want to transfer the NCD, you can visit the nearest insurer’s branch and request them to do so. However, you may need to pay a certain amount of the prorated price.

The Essential Things You Should Know About No Claim Discount (NCD)

What if I change to another insurer?

If you want to change to another insurer, you can still enjoy the no claim discount (NDC) that you have acquired throughout these years. So, whether you prefer Zurich, RHB, Takaful Malaysia, AmGeneral Insurance,  or etiqa, the NCD rate is applicable to all of the insurers.

Can someone else transfer their no claim discount (NCD) to me? 

The answer is no since the NCD belongs to the individual, so you cannot transfer it to another person. With that being said, you can only transfer the NCD to another vehicle as we have mentioned before. 

I’m a first time car owner, will I get 55% no claim discount (NCD)?

Unfortunately, the rate of no claim discount (NCD) for a first time car buyer is 0%. However, it will increase annually should you keep a claim-free record. The rate will gradually increase based on a renewal basis. 

If I get involved in an accident, will it affect my no claim discount (NCD)? 

Primarily it depends on the situation whether the other party is at fault or not. The insurer will make their discretion based on the police report. If you are found innocent, it will not affect the NCD rate.

In another situation, if you got into an accident and decided to pay for the cost incurred with your own money, it will also not affect the NCD since no claim has been made on your car insurance.

But, what if the other party runs away? Will it affect my car insurance NCD? 

If you managed to get the plate number, the first thing you need to do is make a police report of the incident. If the other party submits a report, the police will investigate the matter and identify the party who is at fault. Therefore, the result is entirely based on the investigation.

On the contrary, if you didn’t manage to catch the glimpse of the vehicle plate number, remember to make a police report. Then you can submit the No Fault Own Damage claim (NFOC) to your insurer. The repair cost will be covered without deducting your car insurance NCD rate.

*The content provided is for informational purposes only. FatBerry makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. Should you require more information on our products, please refer to fatberry.com or contact us.

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Super Easy Steps to Compare and Renew Your Insurance with Fatberry!

Super Easy Steps to Compare and Renew Your Insurance with Fatberry!

The process of renewing your vehicle insurance and road tax can be very troublesome. Not many are willing to queue at the post office or the “Road Transport Department” (JPJ), especially those who are busy working since it could take hours.                compare

If you are one of those people, don’t worry because vehicle insurance and road tax can now be renewed online! Fatberry is the best option for you to choose and here’s why:

With us, you can compare 18+ different popular insurers (more coming soon!) to get the best price! We don’t only offer insurance renewal for cars but also motorcycles. Plus, we are also planning to launch health, medical, and home insurance. Everything can be done online

Furthermore, you can get a rebate of RM150 with JOMRENEW promo code if you renew your car insurance with us now! 

Here’s how you can compare and renew your insurance and road tax on Fatberry.com:

1. Type in your name, IC number (Company Reg. Number for company vehicle), vehicle registration number, location postcode, and your contact details.

info

2. Select your vehicle variant and make sure your vehicle info is correct!

variant

3. Halfway there! Type in your personal detail one more time for us to get your quotation right.

personal details

4. Compare and choose the insurer that you are interested in.

choose

5. Next, this is where you choose your add-ons and type in promo code. We always have one! *wink*

compare add-ons

6. The final step! Choose your preferred payment method and all you have to do next is wait for your road tax to be delivered right at your doorstep.

compare payment method

Isn’t that as simple as it can be? Fatberry is not only user-friendly but we also try our best to keep our service top-notch. Your payment process is guaranteed to be 100% safe and there’s else to worry about. Try our service and judge it yourself!

Original article written in Malay by Arif and published initially on pandulaju.com.my. 

*The content provided is for informational purposes only. FatBerry makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. Should you require more information on our products, please refer to fatberry.com or contact us.

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Road Tax Malaysia – Everything You Need to Know

Road Tax Malaysia – Everything You Need to Know

What is Road Tax and How It Works In Malaysia

Road tax is a tax fee paid annually by the owner of a vehicle used on the road. Road tax and car insurance are both obligatory for car owners to have. The bigger the vehicle, the more charges are required to be paid. 

Road charges are utilized for the countrywide maintenance of the road network. The amount of road tax depends on the kind of vehicle; whether it runs on diesel or petrol, the capacity of the engine, and if the car is used for commercial or personal purposes. 

Cars operating in East Malaysia pay a lesser tax amount than West Malaysia due to the variations in road conditions, amenities, and infrastructures.

Driving with an expired road tax is a crime, and you won’t be able to lodge an insurance claim to pay for the cost of the damage if an accident occurs. You will either be called by the JPJ officer or obliged to participate in a court hearing if you are found driving without a valid road tax.

Private automobiles are classed as ‘saloon’ vehicles. Examples of ‘saloon’ vehicles are hatchbacks, convertibles, and sedans. On the other hand, examples of ‘non-saloon’ vehicles are MPVs, SUVs, or pickup trucks. The road tax price for ‘saloon’ vehicles differs from ‘non-saloon’ vehicles.  Furthermore, for the same engine displacement, ‘Company-Registered Saloon’ will have to pay a higher amount than ‘Private Saloon.’ A different rule applies to ‘non-saloon’ automobiles.

So the next concern would be to figure out how much the road tax costs for vehicles in Malaysia. We have got that covered for you!

 

Road Tax Price for Cars in West Malaysia

Engine (cc)  Base Rate  Progressive Rates Road Tax Amount
1,000 and below RM20 RM20
1,001 – 1,200 RM55 RM55
1,201 – 1,400 RM70 RM70
1,401 – 1,600 RM90  RM90
1,601 – 1,800 RM200 RM0.40 RM200 – RM280
1,801 – 2,000 RM280 RM0.50 RM280 – RM380
2,001 – 2,500 RM380 RM1.00 RM381 – RM880
2,501 – 3,000 RM880 RM2.50 RM882 – RM2,130
3,001 and above RM2,130 RM4.00 RM2,134 +

Road Tax Price for Motorcycles in Malaysia

Engine Capacity  Fixed Rate
150 and below RM2
151 – 200 RM30
201 – 250 RM50
251 – 500 RM180
501 – 800 RM250
More than 800 RM350

 

How do you calculate the amount of your road tax?

Let’s go over an example for a Proton X70.

If you look at the car specifications, the car has a 1,799cc engine. Looking at the ‘Road Tax Price for Cars in West Malaysia’ table, Proton X70 that we are talking about falls between 1,601 and 1,800 cc. We can see it has a base rate of RM200. 

To calculate the progressive rate we take the 1,799cc and minus it with the 1,601cc in the table. 

Total of progressive rate:

= (1,799cc – 1,601cc**) x RM0.40

= 198 x RM0.40

= RM79.60 

**The 01cc needs to be calculated into the progressive rates. So, minus 1600cc instead of 1601cc.

Your road tax amount:

= Total of progressive rates + Base Rate

= RM79.60 + RM200

= RM279.60

And that is how you can calculate the amount of your road tax yourself! Like how we mentioned previously, it’s important to pay your road tax on time. Don’t delay such important things as renewing your road tax or there will be heavy consequences.

 

Where To Renew Road Tax

Option 1: Road Transport Department (JPJ)  

Renewing your road tax at JPJ is possible. You just have to locate the nearest JPJ Office, queue, and get it done. Look out for a long queue because JPJ Offices are usually packed with people. Alternatively, you can head to the post office and also renew your road tax over there but an appointment is needed beforehand.

Who can renew my road tax?

The road tax renewal application can be submitted by the vehicle owner or a representative.

If the person present to renew the road tax is the owner of the registered vehicle, he must submit his MyKad for reading and record purposes into the MySikap system through the MyKad reader.

However, if you send a representative, he does not need to bring the MyKad of the registered vehicle’s owner. He only needs to submit his own MyKad.

How to renew road tax at JPJ

  1. Make sure you have prepared the necessary documents:
  • Identification card (IC)
  • Vehicle ownership certificate or copy of vehicle grant
  • Cover note insurance

2. Go to the nearest JPJ office, JPJ branch, or any UTC counter.

  • The full list of JPJ offices is here.
  • The full list of UTC offices is here.

3. Get the queue number.

4. Chill in the waiting area and wait for your number to be called.

5. Go to the counter when your number is called and get your road tax renewed.

6. Done!

 

Option 2: Pos Malaysia

Uneasy feelings and worry come along with expired road tax. Constantly worrying about getting summoned. Here’s how you can renew road tax at Pos Malaysia, besides getting it done at JPJ. The steps are exactly similar to getting it done at JPJ.

How to renew road tax at Pos Malaysia

  1. Make sure you have prepared the necessary documents:
  • Identification card (IC)
  • Vehicle ownership certificate or copy of vehicle grant
  • Cover note insurance

2. Go to any Pos Malaysia office that is nearest to you.

3. Get the queue number.

4. Chill in the waiting area and wait for your number to be called.

5. Go to the counter when your number is called and get your road tax renewed.

6. Done!

 

*For anyone who has lost the copy of your vehicle grant, you can still renew your road tax at the Post Office. You just need to bring your IC or passport. If you are only a representative, the owner’s IC is not required. 

The Pos Malaysia Centres have been reopened nationally since 9 August 2021 to facilitate the new directive, counter services for licenses, or road tax renewals.

Given the present pandemic situation, Pos Malaysia announced that they won’t accept walk-ins to avoid crowds. Vehicle owners need to make an online appointment on the Pos Malaysia Website or the Pos Malaysia app to renew their road tax at the post office.

 

Option 3: Add on road tax when you renew your insurance with Fatberry!

Skip the queue and avoid the “I was busy, I forgot” because now you can renew your road tax online!

You don’t need to queue or hire a runner to buy/renew your road tax anymore. Simply add on the road tax as you renew or buy your car insurance with FatBerry!

 

What happens if you don’t renew your vehicle insurance on time?

Problems will arise with your insurance policy if you don’t renew your vehicle insurance on time. However, if you feel like you are experiencing financial constraints, but your insurance renewal is due just around the corner, there is a leeway for that. Fortunately, insurance providers usually provide a grace period. Here are five(5) repercussions that you will face if you don’t renew your vehicle insurance on time:

1. Your Road Tax Cannot Be Renewed

Section 14(4) of the Road Transportation Act (RTA) 1987 states that if you are caught driving without a road tax, you can be fined RM3,000. The road tax and auto insurance of your car work in conjunction. So you can’t renew your road tax at the Road Transport Department (JPJ) without valid car insurance. 

You are driving illegally if you proceed to drive with an expired road tax. Furthermore, if the JPJ summons you, you are required to settle it at the court and. You can get summoned by the JPJ or the police. 

Your vehicle road tax and insurance normally expire at the same time. This makes it easier for you since you can just get it done on the same day. Once again, you cannot renew your road tax without valid insurance.

2. Your policy will get terminated.

If you skip or make late payments, chances are your insurance provider will terminate your insurance and your vehicle will not be insured anymore.

You will not be protected from the financial effect of car damage or losses resulting from an accident or any unlucky incident without vehicle insurance. This means that you won’t be able to file a claim from the insurance company.

3. The Lapse Of Your Insurance

Your insurance will lapse if you don’t renew your motor insurance or make delayed payments. You will not be covered for some time when you have a deficiency in coverage.

Fortunately, your coverage won’t lapse right away since insurance undertakings frequently allow insurance policyholders a thanksgiving period to pay your premium before it officially delays.

The grace period is normally 30 days following the end of your policy but may vary by provider. This is something you should confirm truly with your insurance provider.

4. There will be an increment in your new premium

You are seriously mistaken if you thought you could save cash by skipping or renewing your insurance later. If possible, avoid doing so because you can end up paying a greater amount on your next insurance renewal.

5. Your Credit Value May Be Affected

Your insurance will lapse if you don’t renew your vehicle insurance or make delayed payments. You will not be covered for some time when you have a deficiency in coverage.

If you are a car owner, you should know that a good credit score is essential. If you are a young adult just starting, maintaining your credit score between 300-850 is vital. The credit score is an indicator of your ability to repay loans.

It’s terrible for your credit score to delay or skip your car insurance payment. Insurance renewals payment is the type of information collected by the Central Crédit Reference Information System, a credit reporting system managed by Bank Negara Malaysia, which credit agencies will later use to compute the credit score.

 

FAQs

How to check when my road tax is expiring?

Road tax is usually renewed annually. You may quickly verify the date online through the JPJ portal if you don’t remember when your road tax is due. Once you have access to the site, follow these four (4) simple steps;

  1. Motor vehicles license expiry investigation search.
  2. Choose your ID Category  (MyKad).
  3. Fill in your ID and the registration number of your vehicle.
  4. Click submit. 

Details such as the start date and end date of your road tax and the date of the expiration of your insurance will be available on the portal. This way, you won’t miss the renewal deadline.

Why is my road tax expensive?

The bigger the engine capacity, the higher the road tax price. 

Are there other factors affecting the price of road tax in Malaysia?

Several factors determine the value of the road tax in Malaysia. Vehicle type, vehicle specs, vehicle registration location, ownership type, and vehicle purpose are all considered. West Malaysians and East Malaysians pay different rates due to the reasons mentioned at the beginning of the article.

Is there anywhere else I can renew my road tax?

Renewing your road tax is obviously much easier now with technology and online resources available. If you’re thinking about purchasing/renewing your car insurance and road tax, you can easily do it with FatBerry!

 

*The content provided is for informational purposes only. FatBerry makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. Should you require more information on our products, please refer to fatberry.com or contact us.

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Fatberry Adds Senior Executives to Help Drive Growth

Fatberry Adds Senior Executives to Help Drive Growth

Malaysia’s leading digital insurance platform, Fatberry.com (“Fatberry”) has continued to experience strong growth and has recently added two senior executives to its management team to further drive growth.

Ms. Zoee Kong, Head of Partnership, and Mr. Rev Ong, Head of Traction, have recently joined the growing Fatberry management team.

Ms. Zoee Kong, prior to joining Fatberry, held senior executive positions at various international businesses and notably at global leading insurer AXA, where she was the Regional Head of Telecommunication Partnerships, APAC, and Head of Mobility and Lifestyle Partnerships for Singapore and Malaysia.

Mr. Rev Ong had previously held positions as Team Lead in various engineering and tech startups, including OYO, one Asia’s fastest growing tech firms.

Mr. John Tan, the CEO of Fatberry, commented: “Our business is growing very rapidly, and we are expanding the talent pool to bring the company to its next growth phase, focusing on bringing the best products and user experience to our customers. We are glad to be adding talented executives like Zoee and Rev to help drive our growth.” 

Fatberry has grown tremendously during the last 18 months, bolstered by accelerating consumer’s digital behaviour due to the global pandemic situation. Fatberry’s vibrant and user-friendly digital insurance platform receives over 200,000 monthly visits in search of its comprehensive range of insurance products.

About Fatberry

Fatberry.com revolutionised the process of buying insurance online. Powered by AI, Fatberry makes getting insurance coverage easier and accessible by offering users an array of insurance products like Car, Motorcycle, Health, Medical, Travel, and more. Today, Fatberry is Malaysia’s fastest-growing digital insurance platform, comprised of the nation’s top insurance brands, where Malaysians compare, customise and buy their insurance!

*The content provided is for informational purposes only. FatBerry makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. Should you require more information on our products, please refer to fatberry.com or contact us.

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