KUALA LUMPUR: AmInvestment Research is retaining its overweight recommendation for the auto sector with a total industry vehicles (TIV) projection of 565,000 units for 2020. In its research note issued on Monday, it expects TIV in 2H2020 to be supported by improved performances across the board for all major automakers.
AmInvest Research attributed its optimism due to the implementation of the short-term National Economic Recovery Plan (Penjana), entailing a 100% and 50% sales tax (SST) exemption on locally assembled (CKD) and fully imported (CBU) car models respectively from June 15, 2020 until Dec 31, 2020.
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