Analysts positive on Malaysia's auto sector
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Analysts are still positive about the Malaysian automotive sector despite vehicle sales dipping in August.
OSK Research is maintaining the house’s total industry volume (TIV) outlook for the year.
“TIV growth year-to-date remains in positive territory at 1.7 per cent, slightly ahead of our forecast of a 1.1-per-cent growth in 2012,” the research house said in a report.
“Sales for non-national marquees in the July-August period remain quite encouraging despite talks on the likelihood of a reduction in excise duties, which could be announced in the upcoming Budget 2013 or in the National Automotive Policy [NAP].”
OSK Research also said it was “business as usual” in the used-car market.
“Based on our channel checks, any weakness in sales in September and October would be marginal. Come the fourth quarter, we believe the seasonally slower quarter [as many defer purchases to after the new registration year] could be buoyed by new model launches from key models such as Nissan’s entry in the B segment, the Almera, and the all-new Honda City.
“As such, we maintain our TIV growth forecast of 1.1 per cent for now.”
According to the Malaysian Automotive Association (MAA), vehicle sales in August fell by 7,644 units or 12.9 per cent to 51,823 units from the 58,382 units in the same month last year.
