PETALING JAYA: RAM Rating Services Bhd has maintained its “negative” outlook on the Malaysian automotive sector and expects total industry volume (TIV) to contract up to 10% this year, following a 17.6% year-on-year (y-o-y) plunge in vehicle sales to 218,101 units in the first five months of 2016.
In a statement yesterday, RAM head of consumer and industrial ratings Kevin Lim said poor consumer sentiment, compounded by the front-loading of sales last year, had resulted in the severe downtrend in TIV.
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