MIDF maintains positive outlook on automotive sector
KUALA LUMPUR, May 8 ― MIDF Research has maintained its positive stance on the automotive sector amid interest rate cut by Bank Negara Malaysia .
“The total industry volume growth had an inverse relationship with OPR. An OPR hike had a dampening impact on TIV growth and vice versa if OPR is cut, given improved consumer spending and basically lower hire purchase rates,” it said. Against an inflated base, especially in 3Q18, MIDF however, forecasts a flattish 0.2 per cent 2019 TIV growth at the point .
Meanwhile, AmInvestment Bank has maintained its “neutral” call on the automotive sector and believed yesterday’s rate cut would not be a catalyst for growth in the sector, unlike the three month tax holiday period in 2018.
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