PETALING JAYA: The automotive sector is expected to see a solid rebound, with total industry volume (TIV) likely to register a double-digit growth, in 2022.
As supply chain normalises and consumers take advance of the sales tax exemption (SST), AmInvestment Bank Research (AmInvest) said the sector could see its TIV grow about 12% to 555,000 units next year from the forecast 495,000 units for 2021. The brokerage maintained “overweight” on automotive, with Bermaz Auto Bhd (BAuto) and UMW Holdings Bhd as its top picks for the sector.