Axia, new Myvi drive up sales for Perodua
KUCHING: Despite registered lower car sales volume in February on year- on-year ( y- o-y) and month- on-month (m- o-m) basis, national car manufacturer Perusahaan Otomobil Kedua Sdn Bhd ( Perodua) was the star performer, recorded encouraging sales growth.
The research arm of TA Securities Holdings Bhd ( TA Research) in a report yesterday said Perodua posted commendable sales growth in February, chalking up new sales of 18,600 units, an increase of 15.7 per cent m- o-m and 19.1 per cent y- o-y.
The research firm noted Perodua Axia has received a total bookings of 68,000 units since it was launched and just 29,000 units have been delivered to customers up to end of February.
Additionally, TA Research believed the new modified Perodua Myvi model which was launched in January was also well received due to its competitive pricing and attractive features.
With the overwhelming responses, the research firm said Perodua Axia and new modified Perodua Myvi models have contributed to the strong car sales by Perodua.
Concurring with TA Research is the research division of CIMB Investment Bank Bhd ( CIMB Research) which observed that February was a good month for Perodua.
CIMB Research pointed out that the strong car sales has further enhanced its sales growth this year and increased its market share in the automotive industry.
As for another national car manufacturer Proton Holdings Bhd ( Proton), TA Research observed Proton car sales declined by 7.3 per cent m- o-m and 22.7 per cent y- o-y to 8,200 units.
In terms of market share, TA Research observed national marques market share has increased to 57.8 per cent in February against 55.9 per cent in January.
As for foreign brands, Honda continued its strong sales in February with 39.9 per cent y- oy volume growth to 6,042 units, resulted in a 17.3 per cent y- o-y jump in sales volume to 12,564 units for year- to- date as at February.
CIMB Research said the encouraging sales was partly contributed by the strong take-up for its new HRV crossover model, which was launched on February 5.
It noted the response for Honda’s new HRV crossover model has been overwhelming, as shown by the company’s 621.1 per cent m-o-m surge in its four-wheel drive (4WD) or sport utility vehicle (SUV) segment sales to 1,572 units, the car manufacturer’s highest for the segment.
Its attractive design, undemanding pricing and the increasing popularity of SUV or crossovers have contributed to the success of the new vehicle sales.
Thus, CIMB Research expects Honda’s new crossover utility model to be an important model that will contribute towards the company’s sales throughout 2015.
With the robust sales, Honda is currently the biggest foreign car manufacturer in the country by market share, overtaken Toyota which has seen its sales volume weakening due to the lack of new models launches.
As for the month of March, the research arm of Maybank Investment Bank Bhd ( Maybank IB Research) expects the TIV to rebound slightly this month and next month supported by recent attractive new launches in the B, C,D as well as the crossover utility vehicle (CUV) segments.
It noted those models could be Perodua Myvi, Mazda2 and Mazda3 complete-knock- down (CKD), Toyota Camry Hybrid and HondaHR-V).
However, analysts remain cautious on upcoming sales due to the implementation of the Goods and Services Tax, uncertainty over car prices and lack of near-term catalysts to lift car sales momentum.