DRB-HICOM unit plans to sell more Citroen cars


  • Business
  • Wednesday, 04 Jun 2003

BY SABRY TAHIR

DIRECTIONAL (M) Sdn Bhd, a wholly-owned subsidiary of DRB-Hicom Bhd, expects to sell 1,000 Citroen cars this year, up from 700 last year.  

The company expects the newly-launched C3 model to help it maintain Citroen's share of 8% of the continental car market in Malaysia. 

The company had received 60 bookings for the C3 which was priced at RM98,536 on-the-road. 

From left: DRB-Hicom senior group director (Corporate Finance and Advisory) Datuk Masnah Abdul Jalil, DRB-HICOM group chairman Tan Sri Mohd Saleh Sulong, French ambassador Jacques Lapouge and Philippe Heno.

Directional general manager Amirudin Abdul Kadir said this after the launch of the award winning car in Shah Alam yesterday.  

According to Amirudin, the company also planned to introduce another two Citroen models – the C8 and Xsara Picasso – before end of this year. 

So far this year, the company had sold 300 units of the Citroen C5 and the Berlingo models,” he said. 

Directional would invest between RM800,000 and RM1mil on upgrading its showrooms and to set up its seventh, in Taman Wahyu, Kuala Lumpur. 

The company was appointed the sole importer, assembler and distributor of Citroen passenger cars in the Malaysia in 1985 by France-based Automobiles Citroen in 1985. 

Automobiles Citroen regional general manager for Southeast Asia Philippe Heno said Malaysia was currently Citroen's biggest market in South East Asia.  

In 2002, of 2,000 cars sold in Asean, 700 were in Malaysia. 

Heno sees the new models boosting Citroen car sales in Asean by 25% this year. Over the past few years, Citroen cars had registered an average sales growth of 3% to 4%. 

“We believe Malaysia has a very mature automobile market too,” he added. 

Heno said Citroen had no plans to assemble the C3 locally due to uncertainties relating to the Asean Free Trade Area ruling on duties and local contents. The rules on duties and local content are not completely fixed. Hence, it is very difficult for a company to decide on local assembly. 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

EPF 1H investment income up 25% to RM34.05b
Asian stock markets wobble as China Evergrande woes sap confidence
Bursa Securities queries SAM after share price spike
Govt should use data as an economic driver, SERI says
VS Industry posts record FY21 net profit of RM245.3mil
RHB Global Economics: Malaysian banks to remain resilient amid S&P's negative outlook
Ekuinas sets up RM10m fund for 4,000 micro, small Bumiputera enterprises
RHB remains committed to supporting SMEs
Affin Islamic, Great Eastern Takaful in Vantage-i series launch
FBM KLCI slides on growing uncertainty

Stories You'll Enjoy


Vouchers