Perodua’s Axia star of November sales
This was driven by year-end promotional campaigns and new model launches, the Malaysian Automative Association (MAA) said in a statement yesterday.
Passenger vehicles accounted for 48,622 units last month compared with 45,749 units in the corresponding month last year, while sales of commercial vehicles rose to 6,691 units up from 6,503 units the previous November.
Year-to-date November, total vehicle sales rose 1.1% to 601,805 units compared with 595,300 units for the same period last year.
MIDF Research in a report yesterday said sales in November were driven by Perodua’s strong sales volume, which was underpinned by the recently launched Axia, The Star newspaper reported.
“To a lesser extent, the growth was also boosted by Honda’s sales volume. The impact from the Iriz remains to be seen as Proton’s sales continued to be weak.”
RHB Research noted that month-on-month, Perodua sales rose 4.8% while Proton sales slowed 0.9%.
“Higher Perodua sales were expected as the car maker ramped up deliveries of the new Axia model. Meanwhile, we understand production of the new Proton Iriz has been slow in a deliberate effort to avoid the quality control issues it experienced in the past,” RHB Research was quoted a saying.
“We expect Proton sales to climb further in the coming months as deliveries of the new Iriz gather pace, although its relatively dated model range could dampen volume growth.”
On the outlook for December, MAA said sales volume was expected to be higher than November 2014 as the continuation of the aggressive promotional campaigns by car companies.
In July, the association raised its TIV forecast for 2014 to 680,000 units from 670,000.
RHB Research said it expected TIV in 2014 to only reach between 655,000 and 660,000 units, falling short of its earlier forecast of 675,000 units.
The company said the upcoming GST next April which would replace sales tax had also caused consumers to put off purchases until the impact of GST on vehicle prices became clearer.
Seasonal factors were also in play consumers held back in anticipation of year-end discounts from automakers, while others preferred to register their vehicles in a new year.
RHB Research said it expected vehicle sales to remain resilient in 2015, underpinned by a strong product pipeline and a competitive market where automakers were prepared to offer discounts.
“We forecast 2015 TIV to ease to 650,000 units. We expect MBM Resources Bhd (which has a 20% stake in Perodua) to be a beneficiary of the positive market response to the Axia, while Berjaya Auto’s Mazda marque may continue to make strong market share gains.”