Automotive Industry In Malaysia 2020

2020 honda city 5th gen launched in malaysia.

Automotive industry in malaysia 2020. Nap 2020 aims to provide a clear vision for the country s automotive sector over the next decade. With a sales volume of about 604 thousand motor vehicles the malaysian automotive industry has already reached a certain level of saturation the sales market in malaysia with its approximately. Malaysian automotive association maa president. The automotive industry stimulates the development of.

This progress will likely continue. Rs e hev hybrid world debut from rm74k 13th october 2020 f44 bmw 2 series gran coupé launched in malaysia ckd 218i m sport. The malaysian automotive association maa was established in november 1960. Over the years maa had grown and assumed a much greater role encompassing both the trade as well as the manufacturing aspects of the industry.

However the outlook of the malaysian automotive industry could be affected by global uncertainties such as the us iran conflict which will impact long term investment decisions. Overall the global automotive industry is in better shape than it was five years ago especially in the us where profits and sales have recovered following the recent economic crisis and in china where growth remains strong. The auto industry will like the sales tax exemption to. The sales volume for june 2020 was 94 7 higher than the sales volume in may 2020.

By 2020 global profits for automotive oems are expected to rise by almost 50. 04 national automotive policy 2020 foreword by yab prime minister of malaysia the automotive industry has been one of the major contributors to malaysia s economy ever since the launching of our first national car in 1983. Over the last 1 decade or so the malaysian automotive industry has undergone a transformation. Last week the malaysian automotive association maa revised downwards its 2020 total industry volume tiv forecast by 34 to 400 000 units from 607 000 units previously due to negative implications of the covid 19 pandemic which has severely affected business operations.