Volvo to invest $23 million in Malaysia expansion

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E6TANM40D2Swedish truck maker Volvo is investing $23 million to expand its network in Malaysia in the next three to five years.

Volvo Malaysia’s Managing Director Mats Nilsson said plans were afoot to enlarge its distribution centers from 11 at present.

“We have been successful in Malaysia. We are growing and investing in our people. Just recently, we had opened new dealerships in Kuantan and Sibu.

“We will have another centre in Ipoh in the first quarter of next year and another flagship dealer in Klang,” he told reporters at the launch of Volvo FM and Volvo FMX trucks.

Also present was Swedish Ambassador to Malaysia Bengt Carlsson.

Nilsson said Volvo Malaysia is poised to increase its market share and revenue with the introduction of the new trucks and expansion of distributorship.

Currently, Volvo commands 46.8 per cent of the market share of heavy-duty trucks in Malaysia.

“Our absolute growth in the heavy-duty truck segment is between 15 and 20 per cent in the last couple of years,” he said.

In Malaysia, the new trucks were specifically built for the growing long-haul transportation, distribution, construction, and mining industries.
“I think when Southeast Asia becomes borderless as a result of the Asean Free Trade Area integration next year, it will be the driver of new products to be offered,” he said.

Nilsson said Malaysia is a key Asian market which boasts exponential growth in construction, transportation and logistics sectors.
Volvo sold 330 trucks in 2013 and expects a 20 per cent growth in truck sales in Malaysia with the introduction of the two new trucks.

 

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Reading Time: 1 minute

Swedish truck maker Volvo is investing $23 million to expand its network in Malaysia in the next three to five years.

Reading Time: 1 minute

E6TANM40D2Swedish truck maker Volvo is investing $23 million to expand its network in Malaysia in the next three to five years.

Volvo Malaysia’s Managing Director Mats Nilsson said plans were afoot to enlarge its distribution centers from 11 at present.

“We have been successful in Malaysia. We are growing and investing in our people. Just recently, we had opened new dealerships in Kuantan and Sibu.

“We will have another centre in Ipoh in the first quarter of next year and another flagship dealer in Klang,” he told reporters at the launch of Volvo FM and Volvo FMX trucks.

Also present was Swedish Ambassador to Malaysia Bengt Carlsson.

Nilsson said Volvo Malaysia is poised to increase its market share and revenue with the introduction of the new trucks and expansion of distributorship.

Currently, Volvo commands 46.8 per cent of the market share of heavy-duty trucks in Malaysia.

“Our absolute growth in the heavy-duty truck segment is between 15 and 20 per cent in the last couple of years,” he said.

In Malaysia, the new trucks were specifically built for the growing long-haul transportation, distribution, construction, and mining industries.
“I think when Southeast Asia becomes borderless as a result of the Asean Free Trade Area integration next year, it will be the driver of new products to be offered,” he said.

Nilsson said Malaysia is a key Asian market which boasts exponential growth in construction, transportation and logistics sectors.
Volvo sold 330 trucks in 2013 and expects a 20 per cent growth in truck sales in Malaysia with the introduction of the two new trucks.

 

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