KUALA LUMPUR: The Malaysian Automotive Affiliation (MAA) has revised its motorized vehicle gross sales forecast for 2024 to 765,000 items from its earlier estimate of 740,000.
President Mohd Shamsor Mohd Zain stated the forecast for the whole trade quantity (TIV) includes the next variety of passenger autos at 696,150 items and a decrease variety of business autos at 68,850 items versus the preliminary estimates of 666,000 and 74,000 items, respectively.
“Components contributing to the upper TIV embrace the resilient home economic system. Malaysia’s gross home product is nicely positioned to increase throughout the official forecast vary of 4 tp 5%.
“Financial institution Negara Malaysia’s resolution to keep up the in a single day coverage fee at 3% is one other key issue that may maintain the automotive market,” he informed a press convention as we speak.
He stated the wholesome backlog orders, particularly within the A section passenger automobiles market coupled with sturdy new gamers with extra new mannequin launches, stay key to the revised forecast.
“The MAA members’ continuation of aggressive promotional methods and offering value-added providers and extra choices to prospects will result in improved demand,” he stated
Mohd Shamsor famous that TIV for the primary half of 2024 (H1 2024) rose 6.6% to 390,296 items from 366,176 in the identical interval in 2023, with passenger automobiles contributing largely to the most important quantity improve.
He added that the whole trade manufacturing for H1 2024 grew 8.1% to 392,052 items from 362,535 in 2023.
In the meantime, MAA is organising the Kuala Lumpur Worldwide Mobility Present 2024 to be held from Dec 5 to 11 on the Malaysia Worldwide Commerce Exhibition Centre. – Bernama