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NEWS UPDATES 17 November 2009

Recovery to boost car sales in Malaysia

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Auto sales are expected to rise next year due more to a rebound in economic growth rather than a slew of new models, reported local business daily the StarBiz.

Analysts do not expect sales to breach 2005’s total industry (TIV) volume record of 552,316 as there are only be a couple of volume drivers slotted in 2010.

“Malaysia auto sales will see stable growth,” OSK Investment Bank Bhd analyst Ahmad Maghfur Usman, who has forecast TIV coming in at 548,000 units, told StarBiz.

The TIV is projected to come in at 500,000 units this year, a number which the market feels is achievable.

At 500,000 vehicles, the number of vehicles sold is 9 percent lower than the 548,115 units sold in 2008.

“It won’t breach 2008’s total industry volume as there are no new models in the C segment that can boost volume,” he said.

MIMB Investment Bank Bhd analyst Rosnani Rasul sees total auto sales at 525,000 units in 2010, as demand for cars will rise along with household incomes as the economy improves.

She does not think that only new models will be needed to give auto sales a boost as facelift editions of existing models have shown to give sales a lift when launched.

The one big car launch already on the way will be Perodua’s MPV. Perodua, which hopes to sell a minimum 3,500 units of its latest model, is starting the MPV production at 4,100 units a month.

The launch of the MPV, which is slotted for next week, has raised hopes at Perodua which sees 2010 as its best sales year on record.


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