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Monday, October 7, 2013
Dearer pricing from next year... Currency fluctuations, Government Sales Tax (GST), increase in fuel prices and all that are going to fuck up your plans to get a new bike in 2014. Well, at least we've got about 14 months to scramble for our toys before the GST takes effect and that said, its inevitable that we will have to fork out at least 5 - 7% more on top of what we are paying retail for bicycles. So, if you are planning to get your next new ride, be sure to set aside some money as prices are expected to be higher due to the weak Ringgit against the US Dollar.
25% + 10% for ALL folding bikes Bikes from Taiwan, USA and Europe are subjected to 25% Duty and 10% Sales tax. This does not include freight charges and mark-up for the item. So, generally-speaking, bicycles are way cheaper if you buy them from countries that exempt taxation on Folding Bikes. But, again, if you plan to take things onto your own hands by importing bikes yourself, be prepared to fork out the extra moolah... The ugly face of retail It doesn't help that some bicycle retailers are morons looking for a quick buck. Only a few bike shops are decent enough in terms of pricing and selection, at the same time, be earnest about good customer service. While some folks would pin down higher margins and profitability, the survival of folding bikes in the market depends on the supply and demand situation. Based on what I see, some retailers are bold enough to gamble on bringing in premium brands and charge a higher retail price at their outlets. Just as long as the customer is happy to pay and do not whine and bitch openly, I guess they've made their money.. Is there a way around this? Sadly, no. All we can hope for, is for the Malaysian Ringgit to stabilize and appreciate. But, seeing as it is, this is still -- just a dream..