currency crisis and car prices in Malaysia

In the recent month the Malaysian currency has plummeted by more than 25% against the US dollar. Earlier in the year the Malaysian ringgit was trading at RM3.50 to USD 1, now it is hovering around RM4.40 to USD1. The drop in the currency will have serious implications on the automotive sector and the prices of parts and cars itself will surely increase. Nearly all cars sold in Malaysia have parts of components that are imported, even cars like the Perodua Myvi or the Proton Iriz there are components that are imported. Not every single part is made locally.
Tyre companies also announced that prices of tyres will be going up by 20%. This knock on effect will naturally have a big impact on transportation and cost of basic necessities since you need transport for all items sold or distributed around the country. The government is in denial about keeping the cost the same since it is impossible for the importers or producers to absorb the price increase. the increase of price will be passed on to the consumers.
Porsche was one of the first to announce that the price of their cars will go up by 15% to 20% depending on model. this may not affect so many since it is a luxury car but if a 15% increase is implemented for small compact cars like the Myvi it will affect the buyers.
The cost of replacement parts will be badly impacted since a lot of the parts of non local cars are imported. People will turn to using second hand parts or turn to salvage yards to find used parts. This is again going against the govt's plans of eliminating the use of second hand parts in the name of safety. Since the cost of new parts will be a lot more expensive the poorer consumers will have little choice but to buy used parts.
Japanese car companies may not see such a big price increase since the drop against the Thai baht and the Indonesian Rupiah is not as big as against the US Dollar. The currencies of the neighbouring countries also dropped significantly against the US dollar.
No one knows how long this will carry on and all hope that the currency will stabilise soon.