Malaysian auto parts exports to US up 37.4% to US$7.8m in 1Q

KUALA LUMPUR: Malaysia’s total exports of automotive parts to the US rose 37.4% year-on-year (y-o-y) to US$7.8 million in the first quarter ended March 31, 2011, said Malaysia External Trade Development Corporation (Matrade).

In a statement Tuesday, June 21, Matrade said the top aftermarket products from Malaysia to the US for the period were tubes, pipes and rubber hoses worth US$3.17 million, up 82.78% y-o-while brakes and brake parts worth US$475,181 were 105.79%.

Export of unspecified motor vehicle parts rose 17.96% y-o-y to US$3.11 million, it said.

Matrade said the main contributing factor for the rise in Malaysia’s exports of automotive aftermarket products to the US had been that repair over replace had become the new mindset of US car owners, as shown by the strong growth in the auto parts channels and lacklustre sales of new automobiles in the US.

“In a 2011 US study, 25% of US consumers reported that they would do more to maintain their vehicle in 2011, compared to 2010.

“The study indicated that with economic uncertainty lingering, many consumers would continue to spend on necessary repairs and maintenance to keep their vehicles on the road,” it said.

Matrade said Malaysian manufacturers of automotive aftermarket components should increase their investment in product quality as well strengthen their marketing activities in the US as continued economic uncertainty in the US and the prevailing consumer mindset of retaining and maintaining vehicles for longer periods would ensure continued strong demand for such products that were of high quality.