KUALA LUMPUR: BMI, a Fitch Solutions company, has revised upwards its projection on total vehicle sales in Malaysia for 2023 to rise by 3.8%, which is...
BMI sees demand for electric vehicles outstripping that of internal combustion engine cars within its 2023-2032 forecast period. – BernamapicBMI, a Fitch Solutions company, has revised upwards its projection on total vehicle sales in Malaysia for 2023 to rise by 3.8%, which is in contrast to its previous forecast of a 9% decline.
The sales tax exemption lapsed on June 30, 2022, and there was a grace exemption period that lasted up to March 31, 2023 for those cars which have been booked for purchase before the end of the sales tax exemption period. On other developments, BMI believes demand for electric vehicles will far outstrip that of internal combustion engine cars within its 2023-2032 forecast period.
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