KUALA LUMPUR, Sept 23 — Proton continues to dominate the automotive industry by being the only car brand that recorded higher sales growth, supported by its popular Proton X70, as well as its face-lifted Proton Saga, Iriz, and Persona.

This is on the back of a neutral rating being maintained on the automotive sector by Kenanga Research.

The research house, in a note today, said the automotive sector’s month-on-month (MoM) performance was flat with only Proton recording significantly higher sales MoM growth.

However, the sector’s year-on-year (y-o-y) sales sales declined, as the market awaits for a better promotional campaign. 

"According to the Malaysian Automotive Association, total industry volume for August 2019 registered sales of 51,148 units. Y-o-y sales recorded a drop but was attributed to the high-base effect from the historic tax holiday from June 1 to Aug 31, 2018," it said. 

It added that only Perodua recorded positive y-o-y growth due to a lower base last year arising from supply constraint for its popular all-new Myvi. 

The research note also said that the national marques continued to be in the lead as Perodua continued to lead the pack with a higher market share of 41 per cent compared with last year's eight-month performance (8M18) at 37 per cent. 

"This was followed by Honda and Proton at the same position. Honda registered a lower market share of 15 per cent (8M18: 18 per cent) with a lower sales growth (-21 per cent y-o-y) as consumers held back purchases, expecting new models in the second half this year, which were delayed due to pricing approval issues," it said. 

Meanwhile, Proton, which recorded a 37 per cent growth y-o-y, gained higher market share of 15 per cent (8M18: 11 per cent) owing to the higher delivery of the all-new Proton X70, and also supported by the existing face-lifted line-ups.

As of 10.40am, the automotive-related counters; BAuto added two sen to RM2.29, MBM shed one sen to RM4.10, while Tan Chong and UMW were flat at RM1.37 and RM5.06, respectively.  — Bernama