KUALA LUMPUR: Automotive players are acceptable to almanac solid balance accretion in the third division (Q3) of 2020, backed by able absolute industry aggregate (TIV) amid July and September, said MIDF Research.
Analyst Hafriz Hezry said the Q3 TIV stood at 167,131 units, a 14 per cent year-on-year (YoY) advance and a whopping 147 per cent quarter-on-quarter (QoQ) increase.
“TIV in Q3 2020 was the arch division apparent in at atomic the accomplished three years. Except for Honda and Nissan which registered a abbreviating of 16 per cent and 10 per cent YoY, all the added key marques registered double-digit TIV advance of amid 14 per cent and 47 per cent YoY during the period,” he said in a address today.
Hafriz said both Honda and Nissan’s accession of the new City and Almera appropriately should drive the accretion in the actual three months of 2020.
However, the close is alert about the appulse of delayed launches arising from the Codicillary Movement Control Order (CMCO).
“Datasets appear back June underscores a area recovery, but we booty a alert attitude on the abeyant appulse of the accomplishment of the accommodation adjournment at end-September.
“This is on top of potentially continued CMCO accustomed ascent Covid-19 cases of late, admitting we agenda that players are sitting on one to two months’ account of booking bank, which should sustain TIV in the near-term.”
MIDF Research has bargain its TIV anticipation for 2020 to 522,927 units from 554,000 ahead due to agency delays in launches by Perodua (B-segment action account vehicle) and Toyota (two new locally-assembled models), which accept been deferred to abutting year.
“The afterlight does not derail our apriorism of a accretion in area balance trends from Q3 onwards.”
Hafriz said industry players had apprenticed the government to extend the tax anniversary allurement until March or June abutting year.
“Although no accommodation has been fabricated yet, this should accommodate a absolute addition to TIV in 2021, should it materialise, anticipation by the cogent advance in TIV back the accomplishing of the accepted annular of tax anniversary back June this year,” he added.
Malaysia’s new car sales in September 2020 grew 26 per cent YoY to 56,444 units from 44,666 units registered a year ago, according to the Malaysian Automotive Association (MAA).
On a month-on-month base (MoM), sales aggregate in September 2020, rose seven per cent college than August 2020.
MAA said the college auction of new cartage in September was due to the advancing promotional campaigns by car companies, as able-bodied as college assembly of models in September 2020.
Production of commuter cartage in September was 15.3 per cent college YoY at 49,966 units from 42,369 units, while assembly of bartering cartage was 26 per cent lower at 2,021 units from 2,732 units.
Year-to-date, sales aggregate for new cartage was 22.9 per cent lower at 341,489 units from 442,99 units registered over the aforementioned aeon a year ago.
MAA said sales aggregate in October was accepted to be lower than September akin due to the appulse from the accomplishing of codicillary Movement Control Order for two weeks alpha October 13 and 14 in Sabah and the Klang Valley.
This will additionally due to consumers’ actuality alert with the catastrophe of loans adjournment on September 30.