Modenas Eyes Increased Market Share, To 15 Percent
GURUN, Aug 18 (Bernama) -- Motosikal dan Enjin Nasional Sdn Bhd (Modenas) aims to strengthen its pole position in Malaysia’s four-stroke motorcycle market segment by selling 70,000 units of scooters and mopeds (kapcai) this year, chairman Datuk Syed Mohamad Syed Murtaza said here today.
The national motorcycle manufacturer is confident of raising its market share to 15 percent in 2007 from 14 percent last year with the introduction of a new model, Kriss 120, he said.
"We are quietly confident that the new model will boost our sales," he told a press conference after the launch of the motorcycle by Minister of Domestic Trade and Consumer Affairs Datuk Shafie Apdal.
Kriss 120 is a four-stroke 120 cc engine moped with single overhead cylinder.
Priced at RM3,788, it comes loaded with advanced technology such as rotary gearshift and a dual filtration lubricant system.
"We plan to dominate and widen our market lead with this model, Malaysia’s first 120cc four-stroke motorbike," said Syed Mohamad.
He said overall sales of the motorcycles in Malaysia this year is estimated to reach 460,000 units, up three percent from last year.
Up to June 2007, the sales had touched 239,112 units as against 233,704 units in the same period of 2006.
To date, there are about seven million motorcycles on the road - one for every four Malaysians.
Syed Mohamad said Modenas plans to export 12,000 motorcycles this year to its current export markets of Iran and Greece. Its other export markets are Turkey, Cambodia, Brunei and Indonesia.
To further increase it export volume, Syed Mohamad said Modenas is also eyeing Vietnam due to its high population and the Vietnamese’ preference for motorcycles as their main mode of transportation.
"We will study the Vietnamese market which we believe has much potential for the company to grow in the future," he added.
On another note, he said Modenas has allocated RM3.5 million to open three new branches in Shah Alam, Kuantan and Johor Baharu this year, he said.
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