Auto Sales Outlook Positive On Booking Backlog
Auto Sales Outlook Positive On Booking Backlog
In general, the industry's earnings visibility is still good, backed by a booking backlog of 160,000 units. The slight decrease of 1% in new vehicle sales in August 2024 is unlikely to stop the upward momentum of the auto sector.
2024年8月新车销量微降1%，不太可能阻止汽车行业的上升势头。
New car sales, also referred to as Total Industry Volume (TIV), fell slightly month-on-month to 71,162 units in August despite aggressive promotion efforts as buyers digest government measures: e-invoicing, petrol subsidy rationalisation and civil servant pay hike.
新车销量，也被称为总行业板块（TIV），尽管推广力度加大，但8月份销量微降至71,162辆，消费者在消化政府措施：电子发票、燃油补贴合理化和公务员工资涨幅。
Nevertheless, with the 8-month volume making up 72% of the full-year projection of 740,000 units, analysts considered the number as meeting their expectation.
然而，虽然前8个月的销量占全年预期74万辆的72%，分析师们认为这个数字符合他们的预期。
In general, the industry's earnings visibility is still good, backed by a booking backlog of 160,000 units.
总的来说，该行业的盈利可见度仍然良好，支撑着预订备货量达16万辆。
Kenanga's 2024 TIV forecast is a tad more conservative than the 765,000 units projected by Malaysia Automotive Association (MAA), pointing to e-invoicing and petrol subsidy rationalisation that could weigh down vehicle sales in the second half of 2024.
肯纳加（Kenanga）对2024年的总行业板块预测比马来西亚汽车协会（MAA）预测的76.5万辆更为保守，这可能受到电子发票和燃油补贴合理化对2024年下半年销量的拖累。
While the affordable segment remains relatively unaffected, fuel subsidy rationalisation will likely hurt the demand for mid-market models, giving rise to a two-speed market locally.
尽管价格较低的车型相对不受影响，但燃油补贴合理化可能会影响中档车型的需求，导致本地市场出现两级速度。
Additionally, the recently announced pay raise for civil servants, 15% for the management and professional category and 7% for the upper management, could boost consumer spending power and push up car sales.
此外，最近对公务员宣布的加薪政策，管理和专业人员类别的加薪幅度为15%，高层管理人员的加薪幅度为7%，可能提振消费者的消费能力，推动汽车销量上升。
Analysts' top pick in the sector is MBM Resources Bhd (MBMR) with a target price of RM6.30. As at 4:19pm, MBMR's stock traded at RM5.78. (Google-hosted Bursa updates)
分析师们在该行业的首选股是MBm Resources Bhd（MBMR），目标价为RM6.30。至下午4:19，MBMR的股价为RM5.78。（Google主办的Bursa更新）
