New Market Research Report: Malaysia Autos Report Q3 2015

New vehicle sales in Malaysia rose 14.2% year-on-year (y-o-y) to 67,314 units in March, compared with 58,919 units a year earlier, according to data released by the Malaysian Automotive Association (MAA). Sales of passenger vehicles during the month increased 13.8% to 59,318 units, while commercial vehicle sales rose 17.6% to 7,996 units. The association attributed growth to strong promotional activity in March, as dealers cleared stocks before the implementation of the goods and service tax. Overall sales in Q115 stood at 168,306 units, representing an increase of 5.2% from the same period in 2014.

Honda has overtaken Toyota to become the bestselling non-national automotive marquee in Malaysia, based on sales data in the first quarter of 2015. Honda sales jumped 41.7% y-o-y to 22,145 units in the first three months of this year - driven by the jump in sales of its sport utility vehicles (SUVs).

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We expect Malaysian auto sales to experience modest growth in 2015 as a subdued economic growth outlook weighs on private consumption. After growing by 1.6% in 2014 to 666,465 units, we forecast vehicle sales to rise by 1.9% in 2015 to 678,930 units.

Our Country Risk team expects economic headwinds to come to the fore in 2015 and forecasts real GDP to be 4.2%, which will be a notable slowdown from the estimated 5.8% GDP growth in 2014. The implementation of a 6.0% goods and services tax in April 2015, combined with the reduction of fuel subsidies will constrain domestic consumption as the prices of goods and fuel increase. Consequently, our CR team expects private consumption growth to slow to 3.0% in 2015 from 3.9% in 2014. Against this backdrop, we are forecasting passenger car sales to rise by a smaller clip of 1.8% in 2015 versus 2.0% in 2014.

While auto sales will struggle to gain traction in 2015 due to flagging economic growth, we believe a certain degree of market saturation is also responsible for anaemic growth over the past few years. Despite GDP growth...

The Malaysia Autos Report features the latest data and forecasts covering production, sales, imports and exports.

BMI Research's Malaysia Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the automotives market in Malaysia.

Key Benefits

* Benchmark BMI's independent automotives industry forecasts on Malaysia to test other views - a key input for successful budgetary and planning in the Malaysian automotives market.
* Target business opportunities and risks in the Malaysian automotives sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Malaysia.

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