Ingress: Auto growth marginal in 2012

Ingress Corporation Bhd expects the total industry volume (TIV) of vehicles for the local automotive industry to record marginal growth this year, at between an estimated 606,000-612,000 units.

"I am confident there will be positive growth in the TIV for this
year. "Last year, we saw some problems due to the tsunami in Japan and floods in Thailand, which affected some of the automotive models in Malaysia," its Executive Vice Chairman/Group CEO, Datuk Rameli Musa told Bernama in an
interview.

He said there should be some recovery and an increase in demand for those models this year.

"So, we expect the TIV for this year to increase at between 606,000 and 612,000 vehicles. The Malaysian Automotive Association will announce its numbers soon," he added.

Rameli expressed confidence over the local automotive industry in the medium term, despite the global economic uncertainties in the near term, particularly in the Euro zone.

He said 2012 would be quite a challenging year for the automotive industry, as it would be affected by the new automotive policy that had yet to be announced, in addition to the new measures by Bank Negara Malaysia, including the loan amount allowed for the purchase of vehicles.

"This year, there is uncertainty in the global economic outlook, especially due to the Euro zone debt crisis. Despite the uncertainties, we are still positive over the automotive industry in Malaysia, especially in the medium term," he added.

"The restructuring of Proton and the long term direction of Perodua will also be a factor impacting the national car industry." Rameli said. -- Bernama