Vehicle sales to grow

KUALA LUMPUR: The Malaysia Automotive Robotics and IoT Institute (MARii) is confident that total industry volume (TIV) can achieve an average growth of 9% a year over the next decade to hit 1.22 million units in 2030, when the current annual growth rate is barely 2%.

Chief executive officer Datuk Madani Sahari said MARii, which is an agency under the International Trade and Industry Ministry (Miti), had considered various potential factors that could help boost TIV growth over the next 10 years, such as a voluntary end-of-life vehicle (ELV) policy.

“We have factored in many variables and one of that is an ELV mechanism. It does not have to be mandatory. But if we can put such a system in place that can benefit the rakyat, I believe it can spur TIV growth, ” Madani Sahari said at a media briefing on the automotive sector yesterday.