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Malaysia Local Automotive Sales Volume Expected To Grow 2% In 2018 - Minister

Malaysia Local Automotive Sales Volume Expected To Grow 2% In 2018 - Minister

"Certified human capital programmes have been developed by MAI since 2014, not only to allow faster penetration of skills into the industry, but at the same time address the pertinent issue of foreign worker replacement among industry players", Mustapa said. The revision will encourage more strategic partnerships between local and foreign auto makers.

"This continuous growth is a signal of growing awareness of EEVs within the Malaysian automotive sphere".

Exports of automotive parts and components is also expected to see an increase in 2017 as the industry already recorded a total export value of RM9.3 billion as at October a year ago. EEV production volume was 308,807 units in 2017, also exceeding its target. Now 19 original equipment manufacturers are offering EEVs to the Malaysian market. There was no mention of the number of new EEV manufacturing licences approved.

The main pillar of NAP 2014 was Energy Efficient Vehicles (EEVs), and the regulators are happy with the rate of EEV adoption in our market. One was to see more export of vehicle components, another was to see more CBUs (completely built-ups) being exported.

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"I have a number of wishlist when introduced NAP 2014, one to see a lot more export auto components and CBUs exported from this country". I don't see exports of CBU from Malaysia increasing substantially in the next few years but it is my wish to see a big increase, probably after five years. The number (of exports) is hovering around 20,000.

"On components, we've made some good progress".

Mustapa said the total industry volume (TIV) is expected to increase two per cent this year on continuos holistic growth in the automotive market. EEV penetration is targeted to hit 60% this year. "Going forward, NAP 2018 will focus more and more on parts and components", said Mustapa. In 2018-2022, committed investments are expected to reach RM3.99 billion, while committed localisation is estimated at RM15 billion.

Vehicle sales are expected to range between 586,000 units and 591,000 units this year, Mustapa Mohamed told reporters at an event in Kuala Lumpur.


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