KUALA LUMPUR: MIDF Research remains upbeat on automotive sector despite lower total industry volume (TIV) in September as core operating environment is turning positive for the sector. TIV registered a 15 per cent year-on-year drop to 40,981 units September. The research house said despite the September weakness, TIV is still showing growth of two per cent year-to-date and accounts for 71 per cent of its full year forecast of 596,000 units. “The new MyVi is an important catalyst to stimulate TIV for the remainder of the year. More importantly, the sector’s underlying core operating environment is turning positive due to currency strength, roll-back of rebates and improving loan approval rate,” MIDF Research said.

Source: New Strait Times October 19, 2017 02:32 UTC