teamcar headline
Ministry Denies Dumping Of Cars In Malaysia
TEAMCAR - The International Trade and Industry Ministry has denied an allegation of the dumping of imported cars in the country.
It said that in fact the number of cars imported had dropped after the government announced the National Automotive Policy (NAP).
Parliamentary secretary to the ministry Datin Paduka Dr Tan Yee Kew said only 9,233 cars were imported in first six months of the year compared with 13,578 units in the previous corresponding period.
"The figure clearly shows no dumping of imported cars in the local market," she said in reply to Datuk Paduka Badruddin Amiruldin (BN-Jerai) in the Dewan Rakyat today.
Dr Tan also said that the NAP was drawn up to enhance the capacity and add value to the local automotive industry so that it was more competitive.
It was not the cause of the decrease in the number of cars sold, she added.What happened was an adjustment process especially the decrease in on-the-road prices of new cars and this had affected the used car market, she said.
Si Khiong Star Aims To Sell 600 Units Mercedes-Benz This Year
TEAMCAR - Si Khiong Star Sdn Bhd has managed to maintain its aim to register sales of 600 units Mercedes-Benz cars this year, according to its chief executive for automotive division, Vincent Lew.
"We are fully aware that the auto market is going to be tough, but we are sticking to this figure (600 units)," he told reporters after the opening of Si Khiong Star Mercedes-Benz Autohaus Service Center in Bandar Kinrara, Monday.
The dealer for the German automotive manufacturer said, to date, it held 20 percent of the Mercedes market in Klang Valley and had sold 300 units for the first half this year, of which 30 units were of the Smart range.Si Khiong Star sold 400 units of Mercedes-Benz last year.
President and chief executive officer of DaimlerChrysler Malaysia, Frank Steinleitner noted that although Mercedes-Benz customer could afford to buy premium cars, the second hand car market needs some push to boost car sales.
However, he said besides the downtrend of in second hand car markets, there were also other factors that could drag down car sales such as tightening of credit finance facilities as well as high oil prices."Getting the second hand car market to move is one of the important factors (in boosting sales)," he said.
Si Khiong Star director, David Park said the company has invested in excess of RM70 million to develop its Mercedes-Benz dealership in peninsular Malaysia, especially with the establishment of the Autohaus.
Si Khiong Star is a member of the Hap Seng Consolidated Group and has only been appointed to sell Mercedes cars last two years.
However, Hap Seng's subsidiary Si Khiong Industries has been the main dealer for Mercedes-Benz passenger and commercial vehicles in both Sabah and Sarawak. (BERNAMA)
PROTON R3 RETAINS MERDEKA MILLENNIUM ENDURANCE TITLE
TEAMCAR -Team Proton R3 successfully retained their Petronas Primax 3 Merdeka Millennium Endurance (MME) to become the first team to win the coveted title twice as Tengku Djan Ley Tengku Mahaleel celebrates his second winners' medal at Sepang Circuit today.*
2003 overall winner comprising Firhat Mokhzani, Chin Tzer Jinn and Eric Yeo, who drove a specially prepared Nissan Skyline R34G was second after completing 268 laps and finishing just ahead of the Jaseri Racing Team.
Strengthened by three-time MME champion Tommy Lee, the team took second place with Sweden's Sven Herberger and Datuk Mokhzani Mahathir completing the partnership as they managed an equal number of 268 laps.
Commenting on the victory, Tengku Djan said it was a difficuit race especially with the heavy downpour, which lasted more than an hour beginning from 3am.
Honda Malaysia Racing Team continued their domination in Class A for production cars above 1900cc by scoring their fourth win in a row. The partnership of Eddie Lew, Farriz Fauzy and Super GT Hiroki Katoh scored a hattrick for themselves by completing 258 laps to finish fourth overall.
The battle for Class B for cars between 1601cc and 1900cc was won by the partnership from Danville Motorsports; comprising S. Vellumani, Lim Lee Hua and Phillip Tang.
The trio from Team Petronas, with Farique Hairuman, Syahrizal Jamaluddin and Fauzi Othman behind the wheels topped the battle for Class C for production cars below 1600cc.
(PICTURE IN PHOTO GALLERY)
BMW Malaysia bullish on local car market, to launch new models
TEAMCAR - BMW Malaysia Sdn Bhd is bullish on the local car market and expects to introduce new models soon to grow the brand, the Edge Daily reported.
Managing director Wolfgang Schlimme said the company's strategy focuses on giving customers variety, new technology, and premium service.
Schlimme expects the second half to be significantly stronger than the first. BMW Malaysia sold 1,349 vehicles in the seven months to July.
On Aug 24, BMW Malaysia unveiled eight new completely-built-up models and variants of BMW vehicles.
Malaysia's July new car sales dip 5pc
TEAMCAR - NEW car sales dipped 5 per cent or by 2,357 units year-on-year in July, but it should improve this month, according to the Malaysian Automotive Association (MAA).
MAA president Datuk Aishah Ahmad said sales volume for August is expected to be higher than the 43,922 units sold in July, as a result of aggressive promotional campaigns by car companies.
"The sales decline in July is in line with our forecast of a 6 per cent contraction of the total industry volume for the whole year," Aishah told Business Times yesterday.
MAA had said 520,000 units of cars, vans and sports utility vehicles would be sold this year, lower than the 551,042 units sold in 2005 and also fewer than its original forecast of 565,000 units announced in January.
So far this year, total sales stood at 292,330 units against 307,390 units in the first seven months of 2005. National makes made up 30,272 units of the total volume in July, up from 27,964 units in the same month last year. Non-national makes went down to 13,650 units from 18,315 units previously.
Malaysia urges Thailand not to create new trade barriers
TEAMCAR - Malaysia's quantitative restrictions on vehicle imports are allowed under world trade rules, Trade Minister Rafidah Aziz said Tuesday as she urged Thailand not to create new barriers to trade amid a dispute over auto tariffs.
Thailand has insisted that Malaysia's policy of giving permits for select few ethnic Malay-owned businesses to import foreign vehicles violates Asean's free trade pact rules and that it will not reciprocate Malaysia's decision to lower tariffs on Thai-made vehicles.
Thai Finance Minister Thanong Bidaya was reported to have said late Monday that the country would not drop its current 20 percent tariff rate until Kuala Lumpur gets "rid of all quantitative restrictions.''
But Rafidah contended Tuesday that the auto licensing policy is not an issue and that vehicles built in Malaysia should enjoy a cut in Thai import duties, partly in reciprocation to Malaysia's move in March to reduce import duties on vehicles made or assembled in ASEAN from 15 percent to 5 percent.
Asked if this signals rivalry between the two nations in becoming the region's automotive hub, Rafidah said: "No, the minister explains that the auto industry is complaining, that's all.''
It will not set back Asean as it is a bilateral issue, and officials will meet next month to resolve the issue, she added.
The Malaysian government has said it will scrap the auto import permit policy - which is meant to help Malays compete economically - by the end of 2010.
Naza to Set Up India Auto Assembly Plant
TEAMCAR - Malaysia's Naza Automotive Manufacturing will set up a 950 million ringgit (US$259 million, euro215 million) assembly plant in India, marking its first foray into South Asia, a news report said Tuesday.
Naza, which mainly imports and assembles vehicles for South Korea's Kia Motors Corp., is set to sign a memorandum of understanding with the state government of Tamil Nadu next month to build the factory in the Sriperumbudur business hub in Chennai, Works Minister S. Samy Vellu was quoted as saying by the New Straits Times.
The company plans to sell Naza and Kia vehicles in India as well as export them to Nepal, Sri Lanka and other neighboring countries, he said, according to the report.
No other details were available. Naza officials could not be immediately reached for comments.
Naza, which began operations in 1976, also has an agreement with France's Peugeot SA to assemble the Peugeot 206 model for sale in Malaysia, Indonesia and Thailand.
In April, Naza launched its own 1.1-liter compact car, which it developed in collaboration with Italian, British and South Korean designers and has said it planned to export the car. The privately owned company will become the third Malaysian auto player _ after national carmakers Proton and Perodua _ to export locally developed passenger cars.
The New Straits Times said Naza is expected to set up more assembly plants abroad to take advantage of cheaper labor and raw material cost, and expand its export business.
Naza has two plants in Malaysia and is building its third and biggest plant in northern Penang state. The new 1.3 billion ringgit (US$354 million; euro295 million) plant is expected to roll out cars by 2008 with an annual production capacity of 100,000 units, officials said.
Malaysia and Thailand at odds over auto imports
TEAMCAR - Malaysia and Thailand are embroiled in a wrangle over auto imports, with Kuala Lumpur insisting that it should be granted lowered rates in the sensitive sector.
Malaysia is arguing that under a regional free trade deal, its auto exports to Thailand should only carry a five percent tariff.
However, Thailand is maintaining a 20 percent tariff until Malaysia removes its national scheme for imports under which only ethnic Malay entrepreneurs are given permits to bring in vehicles.
"Malaysia has conformed to the ASEAN Common Effective Preferential Tariff(CEPT) rates," Malaysia's Trade Minister Rafidah Aziz told reporters ahead of ASEAN economic ministerial talks in Kuala Lumpur.
"We are entitled to get it," she said after chairing the Association of Southeast Asian Nations (ASEAN) Free Trade Area council meeting where she said the issue was raised. Rafidah said Thailand will send a delegation to Malaysia next month to discuss the issue, but that the interpretation of the ASEAN secretariat clearly backed Malaysia's position.
"It is that once the country has brought the tariffs down to the required level and the rule of origin is in line with what is being stated, then we the countries are entitled to receive the CEPT treatment," she said. "It is not linked to any other thing.
" Malaysia announced in March that it will cut taxes in an attempt to enhance the competitiveness of national carmakers Proton and Perodua, and as part of a bid to become a regional hub for car manufacturing and exports.
One of the key changes was the reduction in the ASEAN Common Effective Preferential Tariff import duty to five percent for qualifying vehicles.
Proton To Export 3,000 Cars To Indonesia For Taxi Fleet
TEAMCAR - Ailing Malaysian car maker Proton is reported to be planning to export 3,000 units of its Wira models to Indonesia for use as taxi fleets in an effort to increase sales.
Dwi Sasetia, director of Proton's Indonesian subsidiary, said Sunday the units would be delivered to several cities in Indonesia.
Dwi told Bernama News Agency, "It is a big vote of confidence in Proton cars by Indonesia's taxi drivers because taxis need to be tough and reliable to keep running round the clock on the busy streets."
He said the bad road conditions in many Indonesian streets are causing trouble for most taxi operators there.
He adds, "So when owners evaluate vehicles to replace their taxi fleet, they make sure they get cars that can take the beating of Indonesia's streets.
"The Proton Wira is a natural choice given the length of time the model has been on Malaysia's own roads, which has similar weather conditions to Indonesia."
He admits the fresh order from Indonesia's taxi operators were a welcome move because it would boost Proton's sales which have been on the decline.
"With the increase in fuel prices here in Indonesia, Proton's vehicles offer an attractive business proposition with fuel efficiency," he said.
Thailand Car Industry Sees Big Potential In Malaysia
TEAMCAR - Thai motor vehicle and parts manufacturers have been urged to increase their market share in Malaysia due to high passenger car demand in the country and to take advantage of low tariffs under the Association of Southeast Asian Nations (Asean) Free Trade Area (Afta) agreement.
Samart Deebhijarn, director of Thai Auto-Parts Manufacturers Association, said a Frost & Sullivan survey showed that there were 230 cars for every 1,000 people in Malaysia.
"This is a very high figure compared to other markets. Thai manufacturers should aggressively increase their exports there because the tax is only five per cent under Afta," he said at a seminar on "Opportunities for Thai Auto-Parts Exporters in China and Malaysia" here recently.
Samart said Thailand had better advantage in the motor vehicle sector due to better research and development and use of higher technology.
He said Malaysia had only between 50 and 400 motor vehicle and parts manufacturers compared with Thailand's 700 to 1,000 manufacturers.
"Our 40-year-old motor vehicle sector has now become one of the country's biggest export earners, with the government aggressively promoting it as the 'Detroit of Asia'.
(BERNAMA)
Proton July Car Sales Up 21 Per Cent
TEAMCAR - Proton's car sales in July rose by 21 per cent from June helped by its fresh marketing campaigns and purchase schemes.
Registration of Proton cars with the Road Transport Department in July stood at 10,018 units compared with 8,328 units recorded in June, and its total industry volume (TIV) increased by five per cent to 32 per cent from 27 per cent in June.
According to a car analyst with a Kuala Lumpur-based European brokerage, Proton's positive numbers for July would enable it to recapture its number one position.
He said Proton's aggressive marketing campaigns and push for quality had bore fruit."It has climbed to the top spot again. It will be interesting to see if Proton can deliver the same result over the second half of the year," he added.
The Malaysian Automotive Association has projected a contraction in car sales this year, dipping by six per cent to about 520,000 units. It had earlier forecast TIV sales of up to 565,000 vehicles.
He said Malaysia's passenger car market was the largest in Southeast Asia.It is estimated that there are 7.5 million vehicles in Malaysia, a relatively high ratio of almost two vehicles for every seven people.
The analyst said Perodua led the sales in the first half of the year with 42 per cent market share and Proton was number two with 33 per cent.
"Indications from Proton points to encouraging sales from its new model Satria Neo," he said.Since its launch in June, 2,750 vehicles were sold and 4,000 orders in hand, surpassing Proton's expectations for the two-door saloon.
Protection To National Carmaker Cannot Be Forever
TEAMCAR - Deputy Prime Minister Datuk Seri Najib Tun Razak said the government could not afford to continuously provide protection to national carmaker, Proton or Perodua.
Instead, they should strive to be more competitive in the future, he told reporters after launching the SsangYong Rexton II, here Tuesday.
"The management of Proton and Perodua have accepted the fact that they have to move within an increasingly competitive market, the protection that they have received all this while cannot last forever and they have to work hard to make the national car more competitive," he said.
Najib said although the government intended to make Malaysia a hub for manufacturing new cars, the ultimate aim of the National Automotive Policy (NAP) was to ensure that for now the national car would not be neglected.
"There are several objectives in the NAP, one ensures the presence and viability of the national car and the second is to make Malaysia a hub for the assembling and production of new model of cars.
"We have to manage both of them so that there are no conflicts, and that Proton will not be jeopardised and Perodua will also not be affected," he said.
On the stiff competition now, Najib said that both Proton and Perodua were taking the appropriate measures.
Abdullah Launches Two New Car Models
TEAMCAR - Prime Minister Datuk Seri Abdullah Ahmad Badawi Tuesday launched two new car models using local technology which could reduce the dependence of fossil oil.
The China-made sport utility vehicle (SUV) of the Trekker and Tourer models are fitted with fuel and water tanks.
Abdullah said he was proud that the cars were developed by local scientists which used a revolutionary fuel technology called hydroxene.
Hydroxene is a new technology which allow the use of water as a supplementary fuel to petrol, giving the car a fuel consumption saving of up to 50 percent.
"In my view, this event will have an important long term implication for the domestic automotive industry in increasing the level of value added activities," he said after launching the revolutionary vehicle at the Johor Baharu Expo, here.
The prime minister also welcomed the collaboration between LM Star and Dadi Auto of China, which specialises in the manufacturing of military vehicles.
"I welcome the relationship as China has always been an important trading partner," he said.
Abdullah also said that it was time for local companies to start venturing overseas as Malaysia was relatively a small market place compared with the global market.
Sale of Proton car parts expected to grow 19%
TEAMCAR - Proton Parts Centre Sdn Bhd expects sales of Proton car parts to grow 19% to RM250mil this year from RM210mil previously, managing director Rali Mohd Nor said.
He said sales would be boosted by increased awareness by Proton car owners of the importance of using genuine parts as there was not much difference between the price of imitation and genuine parts.
“Sales lost to imitation parts in the market is about RM6mil annually,” he said.
In its efforts to battle imitation parts, Proton Parts Centre and the Domestic Trade and Consumer Affairs Ministry had jointly raided 13 parts retailers in the Klang Valley, Malacca and most recently Prai.
Rali said sales from the recent Proton Genuine Parts Awareness Road Show would account for some 15% to 20% of the company’s sales this year.
Rali, who launched the Proton Genuine Parts Awareness Carnival yesterday, said the carnival was an extension of the roadshow, which covered areas like Klang Valley, Johor Baru, Skudai, Kemaman, Bukit Tinggi, Kuala Terengganu, Kota Kinabalu and Kuching.
Rali said the carnival aimed to educate the public, especially Proton car users, on the risks of using imitation parts.
“We were alarmed when we found a lot of imitation parts in the market,” he said.
Among Proton products that have been copied are spark plugs, oil filters, automotive transmission fluid, air filters, water pumps, radiator hoses and shock absorbers as well as body parts such as hoods, doors, fenders and tailgates.
Sales of new cars in Malaysia will rebound: Industry group
TEAMCAR - SALES of new cars should rebound, albeit slightly, in the second half of 2006 amid extremely weak used-car prices, rising interest rates, tighter loan procedures and more cautious consumer sentiment, industry officials said.
The Malaysian Automotive Association (MAA) expects a total sales volume of 271,590 units for the period July-December, better than the 248,407 units sold in the first six months of 2006.
Still, that will not be enough to prevent full-year sales from dropping, by about 6 per cent to 520,000 units from 551,042 sold in 2005, the MAA said.
This could be the first time that Malaysia's car industry will see figures dipping, after eight consecutive years of sales growth.
The MAA said that rising oil prices, higher inflation expected at 4 per cent, and the country's anticipated modest economic growth of 5.5 per cent would also be contributing factors to poor sales for this year.
The trade body is hoping that sales will stabilise by the year-end, and that some recovery can be seen next year.
Still a long way before biofuel is on the market
TEAMCAR - Imagine a world where a farmer could extract oil from his own crops, like palm, soy or peanut oil, and fill up the tank of his tractor. There would be no need to stop by at the gas station for petroleum-based fuels.
The farmer would neither run out of fuel -- so long as he was growing sustainable crops -- nor rely on conventional fuel, the price of which is sensitive to issues ranging from production cuts to political upheaval.
Some people might say biofuel self-sufficiency is a utopian scheme, while others have demonstrated it can be done.
In general, biofuel is any fuel that comes from biomass -- or living organisms or their metabolic byproducts. It can come from plants or cow manure, for example.
Many people think the idea of developing biofuel is a new one, but in fact it has been around for more than a century.
Nowadays, with declining oil production and ever increasing fuel consumption, the government has decided to promote biofuel to reduce soaring fuel subsidies.
On the other hand, however, we have to admit that oil palm is the most readily available source for biofuel both in biodiesel and pure plant oil (PPO) forms.
Indonesia is the second-largest producer of CPO in the world after Malaysia. But keep in mind
that Malaysian companies also have their oil palm estates on Indonesian soil.
However, since it is a long process, we can be sure that the price will not be much lower than that of petroleum-based fuels.
BORN TO RUN
TEAMCAR - What a life! Owning the Porsche dealership is probably a dream come true for many people out there, especially if they love sports cars.
Thus, Auto Eurokars chairman Datuk Mokhzani Mahathir is probably one of the most envied man within the automotive industry. Better still, he is also the chairman of the Sepang International Circuit, which makes things even better.
He loves to race and he owns the Porsche dealership... a great combination isn’t it. He also loves speed and because he has been in the racing scene regularly, including having undergone race driving courses overseas in his younger days, he is a good driver.
He knows his Porsches well and he knows it.His passion for sports cars stems from that of his father, former Prime Minister Tun Dr Mahathir Mohamad, who also loved sports cars.Mokhzani used that passion for cars and developed it into a business, owning Auto Eurokars that deals with the Porsche and Saab brands, owning a stake in the Brabus dealership and EKS Motorsport that sells BMW and Mercedes accessories.
He has became a familiar face for the Porsche brand and has a close and strong relationship with his customers. Mokhzani even gives his potential customers taxi rides in and around the Klang Valley and if time permits, a few laps around the Sepang circuit.
(THE MALAY MAIL)
Kurnia counters impact of declining car sales
TEAMCAR - Kurnia Insurans (Malaysia) Bhd is implementing various measures, including a strategy to increase its motor insurance renewal ratio, to counter the impact of the expected contraction in new car sales this year.
Kurnia Asia Bhd’s chief executive officer Datuk Adrian Loh said among the measures, it planned to recruit more agents, strengthen its relationship with bank partners, and offer more innovative products, including hybrid packages for its customers.
The Malaysian Automotive Association now expects passenger car sales to contract by 8% this year on the back of higher interest rates and fuel prices as well as falling used-car prices, instead of its earlier forecast 3% growth.
Kurnia Insurans, a wholly owned subsidiary of Kurnia Asia, has about 7,000 agents nationwide.
“We are going to spend a lot of time to work hand-in-hand with our agents to improve the renewal ratio. If we can increase our renewal ratio, we can at least protect our premium base,” Loh said.
SOURCE : THE EDGE
UMW Toyota hopes to meet sales target
TEAMCAR - UMW Toyota Motor Sdn Bhd, a 51 per cent subsidiary of UMW Holdings Bhd, hopes it can meet its sales target of 100,000 cars this year despite depressed market conditions.
UMW Toyota managing director David Chen, however, still harbours hope of achieving the target, after sales had increased 7 per cent to 42,000 units from January to June this year, amid a shrinking car market.The market is going to be stagnant for the next six months. That's what the industry is saying. (But) we will continue to give our best.
UMW Toyota's performance helps Toyota to remain the country's number one non-national marque, way ahead of Honda with sales of 13,322 units and Nissan (third-place) with 12,878 units, according to the Malaysian Automotive Association data.
Toyota's total sales of 42,002 units allow the Japanese make to capture a 16.9 per cent share of the total industry volume, against Honda's 5.4 per cent and Nissan's 5.2 per cent.
Chen said Toyota Avanza and Vios were the main drivers.Other Toyota models sold by the company are Corolla Altis, Innova, Camry, Yaris, Wish and RAV4.
UMW Toyota plans to launch a new Toyota Camry large sedan by the end of the year and mulls introducing the Toyota Prius hybrid car in the near future.
DCM sells 1,552 Mercedes-Benz in first six months
TEAMCAR - DaimlerChrysler Malaysia Sdn Bhd (DCM) has reported a 5% increase in the sales of its Mercedes-Benz passenger cars to 1,552 units in the first six months of this year over the same period last year despite a 17% decline in the luxury car segment.
In a statement on Aug 2, DCM said its best-selling model was the Mercedes-Benz E-Class, which sold over 650 units and followed closely with the Mercedes-Benz C-Class with more than 450 units.
According to the Malaysian Automotive Association, the Mercedes-Benz marque was able to maintain its number one position in the luxury car segment in the first half of 2006.
DCM's passenger car brands include Maybach, Mercedes-Benz, Chrysler, Jeepâ, Dodge and smart. It range of commercial vehicles include Mercedes-Benz, Freightliner, Sterling, Western Star, Setra, Mitsubishi Fuso, Thomas Built Buses and Orion.
THE EDGE
TEAMCAR - The International Trade and Industry Ministry has denied an allegation of the dumping of imported cars in the country.
TEAMCAR - Si Khiong Star Sdn Bhd has managed to maintain its aim to register sales of 600 units Mercedes-Benz cars this year, according to its chief executive for automotive division, Vincent Lew.
TEAMCAR -Team Proton R3 successfully retained their Petronas Primax 3 Merdeka Millennium Endurance (MME) to become the first team to win the coveted title twice as Tengku Djan Ley Tengku Mahaleel celebrates his second winners' medal at Sepang Circuit today.*
TEAMCAR - BMW Malaysia Sdn Bhd is bullish on the local car market and expects to introduce new models soon to grow the brand, the Edge Daily reported.
TEAMCAR - NEW car sales dipped 5 per cent or by 2,357 units year-on-year in July, but it should improve this month, according to the Malaysian Automotive Association (MAA).
TEAMCAR - Malaysia's quantitative restrictions on vehicle imports are allowed under world trade rules, Trade Minister Rafidah Aziz said Tuesday as she urged Thailand not to create new barriers to trade amid a dispute over auto tariffs.
TEAMCAR - Malaysia's Naza Automotive Manufacturing will set up a 950 million ringgit (US$259 million, euro215 million) assembly plant in India, marking its first foray into South Asia, a news report said Tuesday.
TEAMCAR - Thai motor vehicle and parts manufacturers have been urged to increase their market share in Malaysia due to high passenger car demand in the country and to take advantage of low tariffs under the Association of Southeast Asian Nations (Asean) Free Trade Area (Afta) agreement.
TEAMCAR - Proton's car sales in July rose by 21 per cent from June helped by its fresh marketing campaigns and purchase schemes.
TEAMCAR - Deputy Prime Minister Datuk Seri Najib Tun Razak said the government could not afford to continuously provide protection to national carmaker, Proton or Perodua.
TEAMCAR - Prime Minister Datuk Seri Abdullah Ahmad Badawi Tuesday launched two new car models using local technology which could reduce the dependence of fossil oil.
TEAMCAR - Proton Parts Centre Sdn Bhd expects sales of Proton car parts to grow 19% to RM250mil this year from RM210mil previously, managing director Rali Mohd Nor said.
TEAMCAR - SALES of new cars should rebound, albeit slightly, in the second half of 2006 amid extremely weak used-car prices, rising interest rates, tighter loan procedures and more cautious consumer sentiment, industry officials said.
TEAMCAR - UMW Toyota Motor Sdn Bhd, a 51 per cent subsidiary of UMW Holdings Bhd, hopes it can meet its sales target of 100,000 cars this year despite depressed market conditions.
TEAMCAR - DaimlerChrysler Malaysia Sdn Bhd (DCM) has reported a 5% increase in the sales of its Mercedes-Benz passenger cars to 1,552 units in the first six months of this year over the same period last year despite a 17% decline in the luxury car segment.