Despite the stricter lending guidelines imposed by Bank Negara Malaysia, UMW Toyota Motor Sdn Bhd is maintaining its year-end sales target of 93,000 units.
“Looking at the current situation, we are still maintaining our year-end target,” UMW Toyota president Ismet Suki said.
Although the first few months the local car industry suffered a decline in sales, the company saw a minimal impact on its sales since its implementation of the new lending guidelines. The new guidelines, which require banks to look at borrowers’ net income instead of gross income, had resulted in a higher loan rejection rate.
“We have not seen the effect at all, the impact is minimum, partly I believe it’s because our customers have good credit rating,” Ismet said after the launch of the new Lexus GS.
The mid-sized luxury sedan, Lexus GS, comes in five variants – the GS350 F Sport, GS350, GS250 F Sport, GS250 Luxury and GS250, priced between RM366,200 and RM464,800 in Peninsular Malaysia. The company hopes to sell 150 Lexus GS in 2012, compared to 1,600 sold in 2011. UMW Toyota Motor aims to sell 6,000 Toyota and Lexus hybrid models this year.