Hong Leong Investment Bank (HLIB) research predicts a decline in automotive sector sales, forecasting a “normalised” total industry volume of 720,000 units for 2024.
Malaysian Automotive Association (MAA) reported March 2024 TIV at 71,100 units, with Q1 2024 TIV at 202,200 units.
Vehicle sales
HLIB attributes strong sales to existing order backlogs, improved supply chains, and new model launches, but anticipates a slowdown as backlogs decrease.
Earnings for the sector are expected to decrease in 2024 due to lower sales volume and higher operating costs. HLIB maintains a Neutral stance on the sector, highlighting DRB-Hicom Bhd and MBM Resources Bhd as top picks.
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