Positive economic conditions and continuous investment flow will lead vehicle sales in Malaysia to grow by 4.2 percent year-on-year to reach 675,000 units in 2014, research firm Frost & Sullivan predicts.
Kavan Mukhtyar, Partner & Head of the Automotive & Transportation Practice, Asia Pacific at Frost & Sullivan, said he expects Malaysia’s GDP to grow at about 5.4 percent in 2014, fuelled by strong domestic consumption and improvement in exports.
The much-awaited National Automotive Policy, expected to be announced in mid-January, will also be the catalyst to take the local industry forward through a two-pronged approach and transform Malaysia into a production hub for energy efficient vehicles (EEVs) by 2020.