Proton and Perodua to maintain lead in car sales

Selling fast: Analysts expect sustained strong sales momentum of the Proton X50 in the first half of the year.

PETALING JAYA: AmInvestment Bank Research is projecting an 11% growth for the automotive sector this year, following the extension of the vehicle sales tax exemption.

In its latest report, the research house said it is maintaining its “overweight” stance on the auto sector with a 40,000 unit increase in total industry volume (TIV) projection to 600,000 units for 2021. This would be an 11% increase from its earlier TIV projection of 560,000 units for 2021.