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Home News Auto News New Vehicle Sales To Fall 2 Percent This Year New Vehicle Sales To Fall 2 Percent This Year Auto News Hans | January 15, 2016 05:03 pm Malaysia’s automotive industry is expected to contract even further to 647,000 units this year, estimates RHB Research. This means that 2016 could potentially see a second consecutive year of decline for new vehicle sales in Malaysia, pending the final tabulated numbers for 2015 by the Malaysia Automotive Association (MAA) later this month.RHB said it understands that 2015’s numbers are likely to fall to 665,000 vehicles while market research company Frost and Sullivan is projecting 657,500 vehicles, down 1.3 percent from the record sales of 666,465 vehicles in 2014.RHB Research expects this year’s sales to be poorer than 2015 as many consumers had brought forward their purchase to 2015, in anticipation of higher prices in 2016 due to our weakening Ringgit.“TIV (total industry volume) in 1Q16 may shock on the downside after buyers advanced their purchase decisions to avoid higher prices. Sector margins will remain under pressure, with headwinds overwhelming and risks weighted on the downside,” said the financial research house in its Auto and Automotive parts sector report for January 2016.It added: “We see a difficult year ahead for companies in the sector. Sentiment continues to wane as consumers become increasingly cautious of committing to big ticket discretionary spending given the rising cost of living. The sharp decline in the MYR could manifest itself in 2016 in the form of higher car prices that consumers will take some time to adapt to. We believe there is a low probability that USD/MYR may be able to strengthen above MYR4.00 this year, with RHB forecasting an average rate of MYR4.34.“Margins would remain under pressure in an increasingly competitive market place, while price-sensitive consumers may demand for the best deal and could decide to trade down, diluting the model mix. National auto manufacturers will not be immune, as the middle-income target market is especially susceptible to spikes in the cost of living”On automotive stocks to buy or sell, it said: “We see few re-rating catalysts for the auto sector in 2016. Headwinds remain overwhelming with few positives to highlight. Accordingly, we expect TIV to contract further in 2016 to 640,000 units. The outlook for demand and profit margins remains challenging in the face of weak sentiment. Risks remain weighted on the downside.”It maintained its Buy call for Berjaya Auto’s stocks (Mazda) on the back of “strong product pipeline, expectations of further gains in market share from a small base and compelling product range” but called Sell for UMW’s (Toyota, Perodua) and Tan Chong’s (Nissan) stocks. ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags sales Print Related News January 2016 New Car Sales – Which Brands Gained, And Which Lost Auto News Hans | February 24, 2016 After several months of heavy discounting and sales promotions by almost every major brand, 2016 started bloody. Nearly every brand started the year ... February 2016’s New Vehicle Sales Still 18 Percent Down From 2015 Auto News Hans | March 25, 2016 Following the 35.7 percent drop in new vehicle sales recorded in January 2016, market demand remains weak for February 2016, with total industry ... Post-GST Slump - Vehicle Sales Down By Over 30 Percent Auto News Hans | May 22, 2015 As expected, new vehicle sales took a big hit following the pre-GST buying frenzy in February and March. New vehicle sales for the month of April ... Slowing Economy - ASEAN’s New Car Sales Hits Four-Year Low Auto News Hans | August 03, 2015 Car sales in the ASEAN trade bloc slowed by eight percent in the first six months of 2015. Worryingly, two of ASEAN’s biggest car markets – Indonesia ... Comments
New Vehicle Sales To Fall 2 Percent This Year Auto News Hans | January 15, 2016 05:03 pm Malaysia’s automotive industry is expected to contract even further to 647,000 units this year, estimates RHB Research. This means that 2016 could potentially see a second consecutive year of decline for new vehicle sales in Malaysia, pending the final tabulated numbers for 2015 by the Malaysia Automotive Association (MAA) later this month.RHB said it understands that 2015’s numbers are likely to fall to 665,000 vehicles while market research company Frost and Sullivan is projecting 657,500 vehicles, down 1.3 percent from the record sales of 666,465 vehicles in 2014.RHB Research expects this year’s sales to be poorer than 2015 as many consumers had brought forward their purchase to 2015, in anticipation of higher prices in 2016 due to our weakening Ringgit.“TIV (total industry volume) in 1Q16 may shock on the downside after buyers advanced their purchase decisions to avoid higher prices. Sector margins will remain under pressure, with headwinds overwhelming and risks weighted on the downside,” said the financial research house in its Auto and Automotive parts sector report for January 2016.It added: “We see a difficult year ahead for companies in the sector. Sentiment continues to wane as consumers become increasingly cautious of committing to big ticket discretionary spending given the rising cost of living. The sharp decline in the MYR could manifest itself in 2016 in the form of higher car prices that consumers will take some time to adapt to. We believe there is a low probability that USD/MYR may be able to strengthen above MYR4.00 this year, with RHB forecasting an average rate of MYR4.34.“Margins would remain under pressure in an increasingly competitive market place, while price-sensitive consumers may demand for the best deal and could decide to trade down, diluting the model mix. National auto manufacturers will not be immune, as the middle-income target market is especially susceptible to spikes in the cost of living”On automotive stocks to buy or sell, it said: “We see few re-rating catalysts for the auto sector in 2016. Headwinds remain overwhelming with few positives to highlight. Accordingly, we expect TIV to contract further in 2016 to 640,000 units. The outlook for demand and profit margins remains challenging in the face of weak sentiment. Risks remain weighted on the downside.”It maintained its Buy call for Berjaya Auto’s stocks (Mazda) on the back of “strong product pipeline, expectations of further gains in market share from a small base and compelling product range” but called Sell for UMW’s (Toyota, Perodua) and Tan Chong’s (Nissan) stocks. ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags sales
Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price.
January 2016 New Car Sales – Which Brands Gained, And Which Lost Auto News Hans | February 24, 2016 After several months of heavy discounting and sales promotions by almost every major brand, 2016 started bloody. Nearly every brand started the year ...
February 2016’s New Vehicle Sales Still 18 Percent Down From 2015 Auto News Hans | March 25, 2016 Following the 35.7 percent drop in new vehicle sales recorded in January 2016, market demand remains weak for February 2016, with total industry ...
Post-GST Slump - Vehicle Sales Down By Over 30 Percent Auto News Hans | May 22, 2015 As expected, new vehicle sales took a big hit following the pre-GST buying frenzy in February and March. New vehicle sales for the month of April ...
Slowing Economy - ASEAN’s New Car Sales Hits Four-Year Low Auto News Hans | August 03, 2015 Car sales in the ASEAN trade bloc slowed by eight percent in the first six months of 2015. Worryingly, two of ASEAN’s biggest car markets – Indonesia ...