Purecars

While Malaysia has begun to ease lockdowns, permitting resumption of partial manufacturing operations, restrictions on reaching full capability at automotive plants remain in place till June 9. Counterpoint estimates Malaysia’s automobile market this yr to fall by over 29% to 426,000 units. With a prolonged lockdown, Counterpoint expects broad-based mostly […]

While Malaysia has begun to ease lockdowns, permitting resumption of partial manufacturing operations, restrictions on reaching full capability at automotive plants remain in place till June 9. Counterpoint estimates Malaysia’s automobile market this yr to fall by over 29% to 426,000 units. With a prolonged lockdown, Counterpoint expects broad-based mostly economic challenges leading to a 2020 GDP decline of -5.5%, the worst drop for the reason that 1998 Asian financial crisis. We have revised this yr’s outlook accordingly, and estimate new automobile sales of 745,000 models, a 28% annual decline.