Malaysian Auto Sector to Contribute 10% to GDP by 2020

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. He said: “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. We are expecting 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 expected the total industry volume target of 590,000, but that it depended much on sales in November and December.