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Malaysia to consider restrictions on car imports

Malaysia may consider restrictions on car imports to protect the country's "infant industry", Prime Minister Mahathir Mohamad said on July 30.
Kuala Lumpur (VNA) -Malaysia may consider restrictions on car imports to protect the country's "infantindustry", Prime Minister Mahathir Mohamad said on July 30.

Southeast Asia's third-largesteconomy has liberalised its automotive industry over the past decade, allowing cheapercar imports while local automaker Proton has struggled to stay afloat as itfaced increased competition.

Besides Proton, other Malaysianautomakers are Perodua and Naza. Perodua is the domestic market leader, withabout 40 percent share in 2017.

Honda Motor Co, Toyota and Nissan ofJapan sell both imported and locally assembled units in the Southeast Asiancountry.

According to data from the Malaysian Automotive Association, Honda is thetop-selling foreign brand in Malaysia, with about 21 percent market share lastyear.

Proton was founded in 1983. Its domesticmarket share peaked at 74 percent a decade later as drivers took advantage ofcheap loans when the government encouraged Malaysians to buy home-grownproducts. However, Proton’s market sharedropped to around 14 percent in 2017 due to competition from foreign automakers.-VNA
VNA
#Malaysia#Prime Minister Mahathir Mohamad#infant industry#restrictions on car imports#Malaysian automaker#Perodua#Naza#Vietnam#Vietnam news#Vietnam News Agency
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