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Bleak outlook for Malaysian auto industry in 2020

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Last week, the Malaysian Automotive Association revised downwards its 2020 total industry volume (TIV) forecast by 34% to 400,000 units from 607,000 units previously.

PETALING JAYA: National marques Proton and Perodua would fare worse than non-national marques in 2020's Covid-19 pandemic stressed market, says a report by Kenanga Research.

Last week, the Malaysian Automotive Association revised downwards its 2020 total industry volume forecast by 34% to 400,000 units from 607,000 units previously, due to negative implications of the Covid-19 pandemic which has severely affected business operations. The Kenanga Research report pointed out that consumers are cautious on spending on high-value discretionary spending such as vehicles, imported goods and overseas travels.

 

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