KUALA LUMPUR: Bermaz Auto Bhd (BAuto) reported a decreased revenue of RM457.2 million compared to RM690.3 million same quarter last year mainly due to lower sales volume from the domestic operations. BAuto in its filing with Bursa Malaysia today said the decline was partially offset by higher revenue recorded by its Philippine operations. “The lower sales volume recorded during the period was due to the expected reduction in demand for the phased out Mazda CX-5 model in favour of the new facelift CX-5 model that was launched on 30 September 2019. "As such, there was no sale of CX-8 vehicles during the quarter which eventually affected the anticipated recovery from the lower unit sales recorded in August and September 2019,” it said. “The lower profit contribution was a result of weakening domestic sales volume and lower margin arising from the absorption of higher costs on the new facelift Mazda CX-5 model compelled by the present market sentiments,” said BAuto.

Source: New Strait Times December 10, 2019 10:52 UTC