KUALA LUMPUR – The extension of the sales and services tax (SST) exemption for completely knocked-down (CKD) and completely built-up (CBU) cars to June 30 will boost the automotive industry, said WapCar.
WapCar is a one-stop automotive content and tech-driven hub that provides a full range of information, insights, opinions and user-generated content related to car browsing, buying and ownership.
According to its data, compiled from its 11 million users visitation on site last year contributing to 48 million page views, cars priced under RM100,000 are still the most popular, while brands like Proton and Perodua are the most searched.
“The market share of Proton and Perodua is expected to increase further thanks to new model launches.
“Proton is expected to introduce an updated Proton Iriz and Proton Persona, while Perodua will launch at least two more models, including a yet-to-be-named compact sports utility vehicle (SUV), codenamed D55L,” the company said in a statement today.
WapCar said Proton and Perodua currently control close to a combined 60% of the local car market and there is no reason to believe that both local brands will cede any ground this year.
It said the popularity of B-segment SUVs will continue to increase, mostly due to the affordability factor and introduction of new models like the Proton X50.
However, the rise of B-SUVs come at the expense of B-segment multi-purpose vehicles (MPVs), a segment that has seen very little activity last year.
“The B-segment sedan will be affected slightly but the Proton Persona, Toyota Vios and Honda City will continue to remain as core models for the respective makes,” it said.
Nevertheless, Wapcar said the reimposition of the movement control order (MCO) in many key market centres will be tough car sales this year.
The situation is still too fluid to make a reasonably strong forecast, and with the Covid-19 situation showing no signs of improvement, Malaysians are expected to remain cautious with their spending, it added. – Bernama, January 20, 2021
