Trading Of Auto Accessories Companies in Malaysia

The Malaysian automotive industry is one of the most important industries in the country. It plays a significant role in the economy, contributing to over 3% of the country's GDP. The industry is also a major employer, with over 700,000 people employed in the sector.

The automotive industry in Malaysia is dominated by foreign companies. Proton, the only Malaysian car manufacturer, has a market share of less than 20%. The remainder of the market is split between Japanese, Korean, and European manufacturers.

The Malaysian government has been supportive of the automotive industry, with a number of policies and initiatives aimed at promoting the sector. These include the National Automotive Policy (NAP), which was introduced in 2006. The NAP provides a number of incentives for companies investing in the automotive industry, including tax breaks and duty exemptions.

The automotive industry is a major contributor to Malaysia's export economy. In 2017, the sector exported RM140 billion worth of vehicles and parts. The majority of these exports went to other Asian countries, with Japan, Thailand, and Indonesia being the biggest markets.

The automotive industry is expected to continue to grow in the coming years. The Malaysian government has set a target of achieving sales of 1.5 million vehicles by 2020