New car models lift Tan Chong Motor Q1 earnings

  • Auto
  • Tuesday, 14 May 2019

KUALA LUMPUR: Tan Chong Motor Holdings Bhd , the distributor of Nissan cars, said earnings jumped in the first quarter boosted by higher volume and better sales mix arising from new models launched in Malaysia and overseas markets.

Net profit in the three months ended March 31 rose to RM15.98mil compared with RM4.25mil a year ago.

Revenue improved to RM1.08bil from RM1.03bil previously, the company said in a filing today.

The group's automotive division, which includes assembly, manufacturing and distribution businesses, recorded a revenue of RM1.05bil and a 43% jump in Ebitda to RM69.2mil.

Tan Chong said the automotive industry is expected to face a challenging market due to the lingering economic factors and uncertainties that continue to impact consumer sentiments.

"The business landscape is also seen to be highly competitive as automotive players intensify activities to maintain market share," it said.

"The group will continue to emphasise on its customer care and satisfaction via its extensive network of sales and after-sales services outlets throughout Malaysia and the Indo-China markets, focusing on building a sustainable approach to deliver satisfaction to our customers and in meeting market challenges."

Auto , Tan Chong