Perodua BezzaIn November, Toyota and Perodua registered lower sales, noted TA Research. KUALA LUMPUR: Several research firms are maintaining their “neutral” stance on the automotive sector with a revised higher total industry volume (TIV) for this year on the back of new launches in the fourth quarter and continuation of sales tax exemption till end-December. Kenanga Research said the reported TIV of 454,708 units in the first 11 months of this year, which forms 96% of its previous sales target of 475,000, is above expectation. It had thus revised its TIV higher to 500,000 units for 2020, backed by new launches in the fourth quarter of this year. “We believe the new volume-driven launches in the fourth quarter this year could help cushion the cautious consumer sentiment affected by both the conditional movement control order and ending of the loan moratorium on Sept 30,2020, ” it added. Given the sales tax exemption until end-2020, coupled with better incentives programme under the National Automotive Policy 2020, positive impact from Bank Negara’s overnight policy rate cut and preemptive measures to assist those affected financially by the Covid-19 pandemic, sales would receive a boost, Kenanga Research said. Meanwhile, the monthly TIV dropped by 0.3% month-on-month (m-o-m) to 56,500 units in November, said the Malaysian Automotive Association (MAA). However, on year-on-year basis, it increased by 11.1% due to sales tax exemption for passenger vehicles and new model launches. Besides that, sales of passenger vehicles decreased by 1.2% m-o-m to 51,200 units mainly dragged by lower sales from Perodua, Toyota and Volkswagen. In November, Toyota and Perodua registered lower sales, noted TA Research. “Toyota and Lexus registered combined car sales of 6,300 units in November, down by 3.1% m-o-m and 11.6% year-on-year. “According to management, Vios, Hilux and Yaris have been its best-selling models this year. Meanwhile, Perodua registered 195,000 units for the first 11 months of this year, accounting for 92.8% of its target for 2020, ” it said. On the other hand, the research house said, Honda and Nissan registered a commendable 61.2% and 31.1% m-o-m increase in sales, respectively, due to launches of the new Honda City in October and Nissan Almera Turbo in November. For this month, MAA expects a stronger m-o-m performance due to aggressive promotional campaigns and the continuation of the sales tax exemption. TA Research believes the total TIV for this month would come in 5% to 9% higher than its and MAA forecast of 488,000 and 470,000 units, respectively. Moving forward, the research house expects TIV to be higher next year at 592,000 units, underpinned by improving consumer sentiment, new model launches by national marques such as Proton X50 and Perodua SUV, and increase in completely knocked-down models.
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