KUALA LUMPUR (July 17): Perusahaan Otomobil Kedua Sdn Bhd (Perodua) raised its 2019 sales volume target by 4,000 cars or 1.73% to 235,000 vehicles from the previously estimated 231,000 units after volume and bookings for the first half of 2019 (1H19) rose from a year earlier.

Today, Perodua president and chief executive officer Datuk Zainal Abidin Ahmad said the car manufacturer sold some 121,800 vehicles between January and June compared to 117,000 units in the same period last year on healthy demand for all its car models.

Zainal was speaking to reporters here today in conjunction with Perodua's 1H19 performance review. He said that between January and June, Perodua's car bookings rose to 190,765 units from 184,949 a year earlier.

"The increase in demand for our vehicles in the first six months of 2019 has had positive impact on the automotive ecosystem as a whole, with parts purchase amounting to RM2.7 billion during this period.

"Based on our forecast for the second half of the year (2H19), we expect to purchase a total of RM5.4 billion worth of parts for the whole of 2019," he said.

On the Malaysian automotive sector outlook for 2H19, Zainal said, "There is good news in the market as the central bank has reduced the overnight policy rate (OPR), which will help promote consumer spending."

On May 7 this year, it was reported that Bank Negara Malaysia (BNM) cut the OPR by 25 basis points to 3.00% from 3.25%.

Reuters reported that BNM became the first central bank in Southeast Asia to cut its key interest rate this year, moving to support its economy at a time of concern about global growth.