Auto Industry Malaysia
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Auto industry Malaysia is a booming industry which encompasses areas of activities from car manufacturing to dealing auto business with foreign countries. Auto industry Malaysia is one of principal producers and exporters of vehicle parts, components and accessories, which are widely accepted to most of leading countries of world. Foreign countries like Japan, UK, Thailand, Taiwan, Singapore, Indonesia, are major importers of Malaysia’s cars. 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 auto 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 coming years. During period of slowdown, government of Malaysia surmounted other competing economies by controlling inflation and eventually kept costs down. In year 2000, Malaysia auto industry exported US$274.2 million worth of automotive parts.
Government policies regarding auto industry Malaysia
Government of Malaysia ceaselessly trying to restructure their automotive industry market by encouraging to produce a large number of cars to meet growing demand of consumers. Government of Malaysia is also providing a 50% refund on excise tax for domestic automakers. Overall vehicle taxation structure is also going to be be changed. Tariff on vehicles, which are imported from other ASEAN(Association of South East Asian Nations) areas will also be lowered to 15% from 20%. Excise taxes will also be brought down.
Leading automakers of auto industry Malaysia
Some of leading automakers in Malaysian auto 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 demands of customers by providing reliable and competitive auto components and accessories.
