Kenanga Investment Bank Predicts 805,000 New Vehicle Sales in 2025
Kenanga Investment Bank Malaysia is forecasting 805,000 new vehicles to be sold in 2025, Bernama reports. This is a significant margin as last year they predicted 800,000 new vehicles last year.
The investment bank states that the higher projection of the figures was backed by the large pie slices encompassing a volume-driven affordable segment, with 90,000 Perodua vehicles in the order backlog, steady monthly deliveries and new launches that replace the older generation models.
The report also added that there could be a downtrading trend to more fuel-efficient vehicles with mid-market buyers as the targeted RON95 subsidies go live. The vehicles include hybrids, BEV’s and EEV’s (Energy Efficient Vehicles). In addition, Chinese automakers might ramp up local production efforts to boost the automotive sector.
“We also anticipate a mid-term review of the National Automotive Policy (NAP) to include hybrid vehicles as a key transition to the national target for EV and hybrid vehicles of 15% of TIV by 2030 and 38% by 2040,” Kenanga IB said in a research note today.
Kenanga added that the surge in sales would also be attributed to the BEV’s that have SST exemption and other EV facility incentives until 2025 for CBU units and 2027 for CKD units.
“We expect more favourable incentives from the government which has set a national target for EVs and hybrid vehicles of 15% of TIV by 2030 and 38% by 2040. Meanwhile, the government will speed up the approval for charging stations. The number of proposed charging stations is currently at 4,235 (3,354 built to date) and this should more than double to 10,000 by end-2025,” it added.
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