Here’s some quick updates on automotive segment:

YTD Feb 2024 Automotive Outlook:
YTD Sales volume for Feb 2024 was 13% higher than Feb 2023.
Sales in March 2024 is expected to be higher than February 2024 as companies having their FYE in 31st March would rush for deliveries & Hari Raya festive season promotional campaigns.

Recapping 2023 Automotive Outlook:
The total registration of new Passenger Vehicles in 2023 rose to 719,160 units from 642,157 units in 2022, representing an increase of 77,003 units (~12%).

The high volume increase was largely due to the strong sales performances by the two national makes [$MBMR / 5983 (MBM RESOURCES BHD) $KLSE-DRBHCOM]. As a result, the combined market share of both national makes (within Passenger Vehicle segment) rose to 66.9% (481,300 units) in 2023 compared with 65.1% (418,045 units) in 2022.
Meanwhile, the non-national makes [$UMW / 4588 (UMW HOLDINGS BERHAD) $ BAUTO] registered a higher sales volume of 237,860 units or 6% growth compared to 2022 with 224,112 units.

Electrified vehicles or xEV accounted for approximately 5% of total industry volume (TIV) showing a continued positive momentum for its demand. The xEV sales increase by 69% from 22,619 units in 2022 to 38,214 units, with 10159 units of BEV and 28055 units of Hybrid vehicles.

Source: Malaysian Automotive Association (MAA)


News on EV:
1. $MBMR / 5983 (MBM RESOURCES BHD) - Perodua ‘D01D’ EV production scheduled to start in late 2025, working with partner on prototype : https://cutt.ly/8w34SUsz

2. $BAUTO / 5248 (BERMAZ AUTO BERHAD) adds China EV maker XPeng's distributorship to its portfolio - https://cutt.ly/lw34SU3u

3. EV Models From DRB-Hicom This Year, Proton X90 and Smart EV - https://cutt.ly/Hw34SI8U


Personal thoughts:
- Would need to look into each individual companies’ booking backlog, any pipeline of new launches, impending fuel subsidy rationalisation and also further observe if there is any catalyst or headwinds.