Cautious outlook for automotive sector

Analysts say the slower TIV projection is premised on the absence of the sales and service tax (SST) exemption, as well as slower economic growth that could weigh on car sales and earnings next year.

PETALING JAYA: The automotive sector’s total industry volume (TIV) is expected to soften in 2023 on lower sales expectation, after a likely record-breaking TIV performance pegged at 630,000-700,000 units in 2022, say analysts.

They opined the slower TIV projection is premised on the absence of the sales and service tax (SST) exemption, as well as slower economic growth that could weigh on car sales and earnings next year.