KUALA LUMPUR, Aug 16 — The announcement on economic relaxation measures, including the reopening of non-essential manufacturing sectors including auto and component plants starting today, is a positive development for the automotive sector.
“For auto retailing, states that the outlet is operating in is required to have achieved a minimum 50 per cent vaccination rate while customers are required to have been fully vaccinated,” it said in a research note today. On a positive note, it said the completely-knocked-down kits are now well in stock, given that shipments were still incoming despite the lockdown, which should support a production ramp-up to partly recoup production loss in the past two and a half months.
Finally, it said Klang Valley, one of the key demand centres that accounted for 41 per cent of the total industry volume , has achieved 64.7 per cent vaccination rate which should enable a meaningful return of consumers to showrooms.