Malaysia's second auto manufacturer Perodua has cut its sales target for this year due to weak demand and rising competition ahead of the market's opening in two years, a report said today.

Although sales of Perusahaan Otomobil Kedua Sdn Bhd. (Perodua) cars outperformed the industry in the four months to April with 1.1 percent growth, this was below the company's expectations, managing director Abdul Rahman Omar told Bernama news agency.