Frost & Sullivan forecasts Malaysia’s vehicle sales to reachabout 608,790 units in 2020 at a growth rate of 1%.
Mr. Vivek Vaidya, Associate Partner and Senior Vice President ofMobility at Frost & Sullivan says the key factors likely to aid growthin the Malaysian Automotive market in 2020 include strong andgrowing consumer confidence and new model launches.
“New product launches have assumed more importancethan ever for growth of the Total Industry Volume (TIV). Newmodels that offer smart connectivity features such as remotevehicle access through smartphone apps will get highercustomer interest and will induce purchase,” he added.
“However, factors such as ongoing global headwinds andrepeated postponement of the National Automotive Policy havecreated uncertainty, both of which will need to be overcome bypositive consumer sentiments to maintain favourable growth.”
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