Perodua, Malaysia's second national car company, said it aimed to increase sales by 9% to 240,000 vehicles in 2021 from 220,163 units in 2020.

Malaysia's largest vehicle manufacturer, with Daihatsu Motor as its strategic shareholder, said demand this year would be underpinned by the recently announced extension of the sales tax exemption until the end of June 2021. The company said it would depend on its existing models to achieve its targets this year with the Myvi, Axia and Bezza its best selling models in 2020.

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The company's vehicle output was projected to rise by 23% to a record 272,000 units this year, as it looks to "replenish stocks to ensure prompt deliveries after 2020 ended better than previously expected for both Perodua and the industry as a whole", Perodua president and CEO Datuk Zainal Abidin Ahmad said in a statement.

Zainal added "this would generate MYR6.5bn (US$1.6bn) in revenue for our local vendors".

Perodua said it remainED the biggest buyer of automotive components in Malaysia with all its models having local content of over 90%.