Sunday, December 10, 2023
29 C
Brunei Town

Price hike to be expected amid COVID-19 crisis

Fadley Faisal

Prices in automobile sales in the Sultanate are expected to rise amid the COVID-19 crisis that has affected the global supply chain and demand, Managing Director of Pad Motors Sdn Bhd Haji Hambali bin Pehin Orang Kaya Shahbandar Dato Seri Paduka Haji Mohd Salleh told the Bulletin, confirming that Proton Brunei automobile prices are also not spared from the outlook.

“We are fortunate to be able to sell existing units at the current prices. But not for long,” he said, adding that the units will be sold at current prices from late March until early April.

The managing director said to keep the current prices is not sustainable, as the crisis has affected businesses yet again.

“Manpower and logistical issues have greatly contributed to the upcoming price hikes,” said Haji Hambali, with supply chain and demand cycle also worsened by the global shortage of semi-conductor chips, which may have been caused by a backlog of issues at the start of the pandemic, causing many businesses to experience constraints in workforce and ultimately production capacity.

“It is our responsibility to inform the public in advance, while holding on as long as possible to the current prices,” he said.

“The price hikes are expected to begin by the end of the first quarter of the year.”


Latest article