PETALING JAYA: Total vehicle sales rose 5% year-on-year to 68,156 units in September from 65,160 units last year, according to the latest Malaysian Automotive Association statistics.
“However, the overall total vehicle registration for year-to-date September 2023 is still 11% higher compared with 514,449 units for the similar corresponding period in 2022,” it said. “We believe the strong TIV numbers this year have largely played out, while order backlog growth seems to have peaked with initial signs of receding.MIDF Research said BAuto remains its tactical favourite, riding on the weak yen and completely-knocked-down model expansion, while its dividend yield of 9% is attractive.
“Perodua’s order backlog as of February, May and August stood at 220,000, 190,000 and 155,000, while Toyota’s was at 50,000, 52,000 and 40,000.
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