Yap said TIV in the second half of this year would be supported by improved performances across the board for all major automakers with the implementation of the short-term National Economic Recovery Plan (Penjana).
KUALA LUMPUR: AmInvestment Bank has maintained its"overweight" call on the automobile sector, with a total industry volume projection of 565,000 units for 2020.
“Going into 2H2020, we are expecting a strong recovery over the next six months as the number of domestic Covid-19 new cases is easing and most businesses have resumed operations. Yap said the SST exemptions would result in reduced car prices of between 1.1 per cent and 6.5 per cent for cars across the board for all automakers, which is seen as a much-needed shot in the arm for local vehicle sales, similar to the three-month tax holiday in June-August 2018.
He said Proton and Perodua would benefit from the SST exemption stimulus more than the others given that the prices of their product offerings would be even more affordable post-SST exemption as their entire line-up are locally assembled CKDs.
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