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Auto sector to contribute 10% to GDP by 2020, says Automotive Institute

 | November 7, 2017

Malaysia Automotive Institute chief executive officer Madani Sahari says last year it contributed 3.6% or RM40 billion, and that the contribution will continue to grow.

Madani-Sahari-mai-malaysia-1KUALA LUMPUR: Malaysia Automotive Institute (MAI) chief executive officer Madani Sahari says the automotive sector could contribute 10% to the country’s gross domestic product (GDP) by 2020.

The Edge quoted him as saying: “The automotive sector has been recognised by the Malaysian government as an important contributor to the country’s GDP. Last year, it contributed 3.6% or RM40 billion. And [the substantial contribution by the automotive sector] will only continue.

“We are expecting it [the sector’s contribution] to reach as high as 10% by 2020. “

He said 700,000 people were working in this industry.

On the outlook for the industry this year, Madani said he expected the total industry volume target of 590,000, but that it depended much on sales in November and December.

“We are hoping the autoshow will help boost car sales. Besides that, OEMs (original equipment manufacturers) are also carrying out their own promotions to chase sales,” Madani was quoted as saying by The Edge.

Madani said this at a press conference to provide updates on the Malaysia Autoshow 2017 as well as to announce the winners of the Malaysia Car of The Year (COTY) Awards.

Honda and Mercedes-Benz emerged as the biggest winners, taking a total of five awards each, in the COTY Awards 2017. The Honda Jazz Hybrid was awarded “Overall Car of the Year” title.

Perodua Sales Sdn Bhd’s managing director Dr Zahari Husin was crowned “Automotive Man of the Year 2017” for his visionary leadership and efforts in helping the national automaker defend its leadership in the overall industry, according to the report.

The Malaysia Autoshow 2017, organised by MAI, will be held from Nov 9 to 12 at the Malaysia Agro Exposition Park in Serdang. It is scheduled to be opened by Deputy Prime Minister Ahmad Zahid Hamidi.


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