Hong Leong Investment Bank (HLIB) Research expects continued momentum of high sales volume until June on the SST exemption as well as new car models.
PETALING JAYA: Expectations of the automotive sector’s total industry volume (TIV) growing 18% year-on-year to 600,000 units in 2022 are still high, with research analysts optimistic about the reopening of economic activities and new passenger car models.
According to Kenanga Research, a recovery in car sales is evident from the growing number of backlogged bookings for popular models of up to six months and the stream of new models launches in 2022.
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