Push factor: Analysts say the extended vehicle sales tax exemption will help sustain the automotive sector’s profitability in 2021.
PETALING JAYA: The local automotive industry, which is already seeing a boost in the form of an extended tax holiday this year, is also set to benefit from stronger economic growth and favourable foreign exchange.
CSG-CIMB said in a report it projected a 45% sector net profit growth in 2021, driven by positive earnings growth from all companies, especially DRB-Hicom Bhd
on the back of stronger sales delivery via Proton.
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