Automotive Industry In Malaysia 2020

Last week the malaysian automotive association maa revised downwards its 2020 total industry volume tiv forecast by 34 to 400 000 units from 607 000 units previously due to negative implications of the covid 19 pandemic which has severely affected business operations.

Automotive industry in malaysia 2020. Up to 85 manufacturing industries are covered per country six service sectors and other relevant series car sales steel production gross value added. The malaysian automotive association maa was established in november 1960. The malaysian automotive industry is the third largest in southeast asia and the 23rd largest in the world with an annual production output of over 500 000 vehicles the automotive industry contributes 4 or rm 40 billion to malaysia s gdp and employs a workforce of over 700 000. However the outlook of the malaysian automotive industry could be affected by global uncertainties such as the us iran conflict which will impact long term investment decisions.

By country industry forecasts malaysia. The malaysian automotive industry is expected to begin a challenging phase from 2020 onwards with the. The middle east and africa where 85 of world business is conducted. Malaysia automotive market 2020.

The current policy will be the fourth of its kind since the first nap was introduced in 2006 under the industrial masterplan 2006 2020. Nap 2020 aims to provide a clear vision for the country s automotive sector over the next decade. The automotive industry in malaysia consists of 27 vehicle producers and over 640 component manufacturers. Auto 13 oct 2020.

Over the last 1 decade or so the malaysian automotive industry has undergone a transformation. With a sales volume of about 604 thousand motor vehicles the malaysian automotive industry has already reached a certain level of saturation the sales market in malaysia with its approximately. The malaysian economy is expected to continue recording positive growth in 2020 driving consumer confidence throughout the year. The malaysian automotive association is projecting a tiv growth of less than 1 to 607 000 units for.

The fourth version the nap 2020 envisions to enhance malaysia s automotive industry in the era of digital industrial transformation from 2020 to 2030 thus enabling malaysia to realise connected mobility.