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Friday, April 16, 2010

Malaysian Auto Sector Sees A Record Sales!!

Its looks like the gloomy days of the auto sector has coming to an end. The stellar sales performance based on the data provided by some local car companies recently, it would expect to be a record breaking year for the Malaysian automotive sector. Based on this year prediction of Malaysian Automotive Association’s (MAA) the total industry volume (TIV) for this year would be 550,000 units but with the encouraging trend of sales, OSK Research auto analyst believes that it could surpass the forecast and even exceed Malaysia’s all time high of 552,316 units of sales in 2005.

This encouraging sales performance can be seen from the announcement made by Honda Malaysia Sdn. Bhd and also Perusahan Otomobil Kedua Sdn. Bhd (Perodua) earlier this week which stated that their car sales was 4,014 for Honda and Perodua recorded a high of 18,500 units last month and most of the car companies also sees a good sales performance in March. Despite these encouraging trends, MAA still sticks to their forecast of this year sales performance as it would be too soon to adjust the forecast. Malaysian automotive sectors are policy driven and it is too sensitive to any changes. If the government decides to change the policy, this will adversely affect the sales figures for the next coming months.

The consumer confidence with the improving economics derivatives also drives the luxury car segment. A spokesman for BMW Malaysia Sdn. Bhd said the response for the newly launched BMW X1 (SAV) has been very encouraging as all 40 units allocations has been snapped up by the dealerships.

With all this encouraging results, let’s hope the year 2010 would uplift the automotive industry in Malaysia to a higher level thus pushing the economy towards the high income nation.

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