Malaysia's auto sales to hit record high in 2010

Unemployed Americans attend a National Career Fair at the Airport Radisson Hotel as they search for work in Los Angeles on Monday. New claims for US unemployment benefits fell more than expected last week, hitting levels not seen since August 2008 as factories cancelled summer closures.Photo: AFP

Malaysia's auto sales rose 19.8 percent in the first half of 2010 and are tipped to hit a record high this year in Southeast Asia's biggest passenger car market, an industry group said Tuesday.
The Malaysian Automotive Association (MAA) revised its 2010 sales forecast for 2010 to 570,000 units, from 550,000 units estimated previously, as the nation's economy recovers.
"Positive consumers' sentiment is expected to continue owing to greater stability in the employment market," the MAA said in a statement.
The association said sales for January to June stood at 301,077 units, compared to 251,305 units sold in the same period in 2009.
Local carmaker Perodua led the sales with a 31.5 percent market share, followed by national carmaker Proton with 26.6 percent while Japanese auto giant Toyoto came in third with 14.8 percent.
The MAA said it was optimistic the industry would break an all-time record of 552,316 units sold in 2005.
"The new forecast (of 570,000 units) will definitely be achieved," MAA president Aishah Ahmad said, according to Dow Jones Newswires.