What is in Store for the Malaysian Automotive Industry in 2016? – Research and Markets
By Business Wire News
By Business Wire News
Research and Markets has announced the addition of the “What is in Store for the Malaysian Automotive Industry in 2016?” report to their offering.
This Research Service (RS) presents a detailed overview and strategic insight into the various market canvas factors that are likely to impact the Total Industry Volume (TIV) in the Malaysian automotive industry in the year 2016. The study also presents an analysis of these factors and assesses their impact on vehicle sales during the year. The RS includes an introduction, factors impacting TIV, market canvas factors, automotive industry drivers and restraints, and key takeaways.
It is evident that the growth of the industry declined significantly in 2015 but, contrary to beliefs of most Original Equipment Manufacturers (OEMs) and analysts, TIV surpassed the 2014 numbers. There were several factors that impacted the performance of the Malaysian automotive industry in 2015 but the biggest impact was from the implementation of the Goods and Service Tax (GST).
On 1st April 2015, the Malaysian Government implemented the GST and it replaced the Sales and Service Tax (SST). The standard rate of GST is 6% and unlike the SST, it is levied on most transactions in the production process. Most customers and several experts believed that the implementation of GST would lead to an immediate increase in prices of vehicles.
As a result, when the government announced that GST would be implemented from 1st April 2015, there was a surge in automotive sales in March 2015. In March 2015, the Passenger Vehicles (PV) segment recorded sales of units, which at that time, was the second highest monthly sales recorded in the last years.
Key Topics Covered:
- Factors Impacting Total Industry Volume (TIV)
- Market Canvas Factors
- Automotive Industry Drivers and Restraints
- Key Takeaways
- Legal Disclaimer
For more information visit http://www.researchandmarkets.com/research/c2zqcn/what_is_in_store
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Laura Wood, Senior Manager
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