No smooth ride for auto sector due to MCO 3.0

TheStar Wed, Jun 23, 2021 09:10am - 2 years View Original


PETALING JAYA: After a 19% decline in sales on a month-on-month basis in May, total industry volume (TIV) for the auto sector is expected to take an even steeper dive this month as most car showrooms and production centres are closed due to MCO 3.0.

However, taking a longer-term view, prospects for the industry should improve backed by an accomodative interest rate environment and the extension of the sales and service tax (SST) exemption until the end of this year.

Still, not all analysts are convinced enough to turn fully positive on the auto sector just yet.

Kenanga Research has maintained its “neutral” call on it for now.

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