Business

Wednesday January 25, 2012

Hybrid vehicle sales in M'sia to hit all-time high

By EUGENE MAHALNGAM
eugenicz@thestar.com.my


PETALING JAYA: Sales of hybrid vehicles in Malaysia are expected to hit an all-time high this year, boosted by rising popularity, increasing awareness, ongoing tax incentives and new model launches.

OSK Investment Research analyst Ahmad Maghfur Usman believes hybrid vehicle sales could see a 40% growth this year.

“I think it can easily grow by that much. The spur of interest in hybrids will continue to be there, especially with new model launches (in the pipeline). Plus, judging from the margins that automakers are earning from hybrids, there is always room for discounts to excite the market,” he said.

Total hybrid vehicle sales jumped over 2,000% to 8,334 units in 2011 from 328 a year earlier due to the ongoing excise duty exemptions on such vehicles.

John Mendel, Executive Vice President, American Honda Motor Co., speaks next to the Accord plug in hybrid concept car as it is displayed on the final press preview day for the North American International Auto Show in Detroit, Michigan, January 10, 2012. - Reuters

Honda recorded a surge in hybrid vehicle sales to 4,596 units from 129 in 2010, while Toyota sold 2,457 units versus 198 previously. Lexus sold 1,267 units compared with just one unit previously. Porsche, meanwhile, sold 14 units last year.

“Sales of hybrid vehicles would have been higher in 2011 if not for the production disruption caused by the tsunami in Japan in March and the floods in Thailand later in the year,” said one industry observer.

Malaysia Automotive Institute chief executive officer Madani Sahari said that last year's record of 8,334 hybrid units could be easily broken. “This year, easily we can hit 10,000 units, if not more than that.”

Malaysian Automotive Association president Datuk Aishah Ahmad said earlier this month that vehicle sales in 2012 would be boosted by the demand for hybrid cars.

At a briefing recently, Frost & Sullivan partner and head for automotive and transportation practice, Asia-Pacific, Kavan Mukhtyar said he expected a 60% growth in hybrid vehicle sales this year.

In an e-mail response, UMW Toyota Motor president Ismet Suki said the company had plans for a new compact hybrid vehicle “very soon”.

“We always look for ways to meet our customers' requirements and provide them models that best suit their needs and budgets,” he said, adding that UMW Toyota would “definitely sell more hybrid vehicles” in 2012.

“We will continue to enhance and promote a “Toyota Hybrid Community” in Malaysia.

“We will continue to stress on the benefit of “Hybrid Synergy Drive” to the consumers as well as educate and promote the latest and best technology in preserving the environment.”

A spokesman for Honda Malaysia Sdn Bhd said he was optimistic about its hybrid sales outlook for 2012.

“Since the launch of Honda Insight (in December 2010), we have had an overwhelming response from the market and we believe there is demand for hybrid vehicles.

“We will continue to study the market but we are unable to share any information for the time being.”

  • E-mail this story
  • Print this story
  • Bookmark and Share