Boost to the auto industry

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Boost to the auto industry

Postby admin » Thu Jun 17, 2010 1:13 am

PETALING JAYA: The country’s economic recovery will boost the automotive industry, especially in the sale of cars.

Naza Group of Companies joint group executive chairman Datuk SM Faisal SM Nasimuddin said recent sales of cars were a good reflection of “where things were moving”.

He said in a statement yesterday that some 100 units of its latest 1.8L sedan – the Chevrolet Cruze – were snapped up nationwide barely a week after its June 10 launch.

He added that Naza, through its subsidiary Pavilion Crest Sdn Bhd, hoped to sell 1,000 units by year’s end. Faisal said response to the Cruze reflected Naza’s optimism about the country’s economic recovery and future prospects.

“The current positive market sentiment is also a clear indicative of the New Economic Model’s drive to grow entrepreneurship, in turn increasing productivity and enhancing the country’s economic landscape,” he added.

He said due to the Government’s unprecedented efforts in tackling the economic downturn, the recent fourth quarter gross domestic product growth of 4.5% showed that the worst of the global financial crisis had passed.

Faisal also described the recently-tabled 10th Malaysia Plan as “a compass” that will steer corporations like Naza towards supporting effective and smart partnerships like General Motors.

Read the full article:
http://thestar.com.my/news/story.asp?fi ... sec=nation
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