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Viewing report
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Malaysia Autos Report Q1 2012
Business Monitor International, Dec 2011, Pages: 51
Business Monitor International'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 Malaysia's automotive industry.
BMI expected the recovery of the supply chain for Japanese carmakers to ensure Malaysia's vehicle sales in H211 were an improvement following the disruption in Q211. However, floods in Thailand in Q3 and early Q411 have created further disruptions to supplies of parts and vehicles imported from the nearby market. This, coupled with a shorter month owing to the national holiday period, meant that sales for September 2011 were 24% lower than August. Sales for August did include advance buying before the holiday period, however, creating unfavourable base effects for a month-on-month comparison, and September's sales were actually 2.2% higher y-o-y.
The remainder of 2011 is likely to be more stable as operations in Thailand are beginning to return to normal and sales should follow a more natural growth pattern after the holiday period. BMI believes sustained growth similar to that witnessed in September would ensure our forecast of 2% growth is met.
Looking ahead to 2012, BMI is optimistic that higher growth can be achieved, with the commercial vehicle segment continuing its outperformance. That said, positive consumer sentiment, which has attracted the likes of Mercedes-Benz, should result in a better performance for the car segment in 2012.
BMI forecasts growth of 8.3%, compared with 9.2% for the commercial vehicle segment. Our Asia team believes an improvement in the manufacturing sector will be positive for the labour market and, subsequently, private consumption in 2012.
Further developments are also expected in the alternative fuel segment. Proton has announced it will begin commercial sales of its electric vehicles (EVs) in 2013. Although the company claims its models will be competitively priced, they will be launched towards the end of the government's newly extended tax breaks for hybrids and EVs and when major international brands have already got a foot in the door. There is a chance that Proton has missed the boat in adding EVs to its range but BMI believes it is also unlikely that the Malaysian government will not provide any further incentives for developing green technology.
Indeed, the government is testing Proton's two EVs - the Saga and the Exora Range Extender. There are currently three Sagas and five Exora Range Extenders with the government as a test fleet and according to Proton director Zainuddin Che Din, the company is looking to have 150 Sagas and 200 Evoras with the government by the end of 2012 as part of their official launch. Proton is also working with the government to build a charging infrastructure in major cities.
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