Despite a not so good future being predicted for the entire auto industry, Volkswagen is sure that they will be able to reach their sales targets for 2012. The company is optimistic of their performance even though the auto industry is reeling under slowdown and stringent loan approvals by banks.
Malaysia has the biggest passenger car market in the region. 600,000 vehicles were sold during 2011 and Malaysian Automotive Association has estimated that there should be a 2.5% increase in sales during the current year. Local bank analysts are also optimistic of Volkswagen sales in the country, especially considering the group of individuals who have shown interest in purchasing VW vehicles, have a good credit rating and will have no difficulties in getting their car loans sanctioned.
Volkswagen has a range of vehicles which cater to a varying class of customers. There is a general slowdown in the auto industry following certain lending issues that can into effect at the start of this year. Auto loans are now based on net income levels while they were earlier linked to gross income levels. Auto sales in Malaysia fell from 50,936 units in April 2011 to 47,763 units in April 2012. Volkswagen has some new launches in the offing and is sure that this is what will boost demand in the current year.
Mr Rucky Tay, MD, Volkswagen Mlaysia, said, “Malaysia has the highest number of passenger cars on the road in Asean. It remains the biggest passenger car market in the region with the highest demand. With more than 600,000 vehicles sold in 2011, the Malaysian Automotive Association (MAA) had forecast a 2.5% increase in vehicle sales volume in 2012. With these figures in mind, Volkswagen is looking at a very robust 2012.”