Perusahaan Otomobil Kedua (Perodua) aims to sell 194,000 units this year for a market share of 30%.

Business Times said the automaker would spend RM2.3bn over four years to expand its factory.

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The 194,000 unit target is up 2% from last year’s 189,000 units, a seven-year record.

The 189,000 units were the highest ever for the country’s top vehicle seller seven years running, for a market share of 30.2%. Over 2m Perodua vehicles currently are on the road.

Managing director Datuk Aminar Rashid Salleh said the carmaker would commit RM2.3 billion to expand its manufacturing and sales business in Malaysia over the next four years.

“This year’s target is based on the expected strong economic performance of above 4% as well as a healthy demand for vehicles, especially among the younger generation,” Aminar said.

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As part of the automaker’s moving forward strategy, Aminar said, the investment between 2012 and 2016 will further boost efficiency in terms both of manufacturing and sales and aftersales business.

He said Perodua, which celebrates its 20th anniversary in August, will spend over RM68m this year to upgrade and modernise machinery, equipment and facilities at its plant in Rawang, Selangor, plus over RM54m on land acquisition and infrastructure development for the sales and after sales business.

The carmaker, 38% owned by UMW Holdings, announced a spend of RM790m last month on a new manufacturing plant adjacent to its existing plant due for completion in 2014.

On the company’s aftersales business, Aminar said Perodua posted a record intake of 1.78m vehicles in 2012, up 5% from 1.7m in 2011.

With 170 service outlets nationwide, Perodua also saw another milestone when its parts sales division booked sales of RM240million, up 17% from RM205.1m in 2011.

The carmaker exports 10,000 units to seven countries and aims to ramp up foreign sales to over 20,000 by 2015.