Automobile industry Malaysia is a booming industry which encompasses areas of activities from car manufacturing to dealing automobile business with foreign countries. Automobile industry Malaysia is one of the principal producers and exporters of vehicle parts, components and accessories, which are widely accepted to most of the leading countries of the world. Foreign countries like Japan, UK, Thailand, Taiwan, Singapore, Indonesia, are the major importers of Malaysia's automobiles. Leading automotive manufacturing companies like Mercedes, Suzuki, Ford, General Motors, Mazda, Nissan and Mitsubishi are using Malaysian automotive products and accessories because of their high quality and competitive prices.
Survey report regarding automobile industry Malaysia
Market survey conducted by Business times, reveals that during 2007, sales of Malaysian vehicle reached 4,648 units with an overall growth of 13.8% and is expected to increase in the coming years. During the period of slowdown, the government of Malaysia surmounted other competing economies by controlling inflation and eventually kept costs down. In the year 2000, Malaysia automobile industry exported US$274.2 million worth of automotive parts.
Government policies regarding automobile industry Malaysia
The government of Malaysia ceaselessly trying to restructure their automotive industry market by encouraging to produce a large number of cars to meet the growing demand of the consumers. The government of Malaysia is also providing a 50% refund on excise tax for domestic automakers. The overall vehicle taxation structure is also going to be be changed. The tariff on vehicles, which are imported from other ASEAN(Association of South East Asian Nations) areas will also be lowered to 15% from 20%. The excise taxes will also be brought down.
Leading automakers of automobile industry Malaysia
Some of the leading automakers in Malaysian automobile industry are Perodua, Perusahaan Otomobil Nasional Bhd., Malaysia's first national car project was Perusahaan Otomobil Nasional or PROTON. Malaysian car manufactures are trying to meet the demands of the customers by providing reliable and competitive auto components and accessories.