Malaysian company UMW hopes to sell more cars after this year after launching new Toyota models.
Go deeper with GlobalData
Chief executive Abdul Halim Harun told Reuters he expects 2008 car sales to rise 6-7% amid strong demand for small cars, but was cautious about the middle class and luxury car segments.
“As far as the car sales is concerned, I don’t see a slowdown,” he told the news agency. “We’d like to see that growth contributed by the new models.”
Reuters said the forecast was above an industry projection of 4.7% growth in motor vehicle sales on continued growth in the Malaysian economy, which is officially projected to expand at a 6-6.5% pace in 2008 on the back of strong domestic demand.
UMW controls almost half of Malaysia’s car market through its joint venture, UMW Toyota Motor, and an associated company, Perusahaan Otomobil Kedua Sdn Bhd (Perodua), the report noted.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataHalim reportedly said the company’s launch of Toyota Corolla Altis and the recent launch of the Toyota Rush would boost its sale of Toyota cars to 90,000 in 2008 from just over 80,000 last year.
