PETALING JAYA: Malaysian vehicle sales could slump to a 13-year low, as multiple extensions of the movement control order (MCO) amid the Covid-19 pandemic is expected to create negative implications on corporate earnings, employment security and consumer sentiment.
MIDF Research said in a report it is slashing its total industry volume (TIV) projection by 16.5% to 504,850 units for 2020, adding that automotive sector earnings are expected to fall 51% year-on-year.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!