TIV up 8.7% yoy in Feb 10. Malaysian automotive industry’s TIV increased 8.7% yoy in Feb 10 (vs. +32.8% yoy in Jan 10) with 40,654 units sold (vs. 59,622 units in Jan 10). We believe the resilient growth in Feb 10 TIV is largely due to the low base factor arising from the sharp contraction beginning Oct 08 as well as pent-up demand stemming from car buyers postponing big-ticket purchases in 2009. However, the lower yoy increase in TIV was largely due to lower yoy growth for most of the top marques as well as yoy contraction for Honda.
Motor : Feb 10 TIV Up 8.7% Yoy, Pointing To Resilient Growth Ahead
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