Revving up with the New Automotive Policy 2014

International Trade and Industry Minister Datuk Seri Mustapa Mohamed on January 20, 2014 announced the New Automotive Policy 2014 (NAP 2014) with the aim of positioning Malaysia as the single production base and marketing hub for energy efficient vehicles (EEV) ahead of the Asean Economic Community (AEC) integration next year.

Looking at a longer-term and more sustainable strategy to transform the local automotive industry, the NAP 2014 takes into account job and investment opportunities.

The NAP 2014 also allocates a total financial package of about RM2 billion, as well as measures and implementation plans to increase vehicle exports to at least 200,000 units annually with exports of components reaching a minimum value of RM10 billion in 2020.

This substantial financial package will definitely help boost the industry and will be well-received by automotive industry players.

As a consumer, will the NAP 2014 increase your chances of owning your dream car or drive it further from reality? Does it answer the questions that most of us have regarding car prices in Malaysia or does it create more uncertainties? Decide for yourself. Here are the details of the new policy.