Proton continues to dominate the automotive industry by being the only car brand that recorded higher sales growth, supported by its popular Proton X70, as well as its face-lifted Proton Saga, Iriz and Persona.

This is on the back of a neutral rating being maintained on the automotive sector by Kenanga Research.

The research house, in a note today, said the automotive sector’s month-on-month (MoM) performance was flat, with only Proton recording significantly higher sales MoM growth.

However, the sector’s year-on-year (y-o-y) sales declined, as the market waits for a better promotional campaign.

"According to the Malaysian Automotive Association, total industry volume for August 2019 registered sales of 51,148 units. Y-o-y sales recorded a drop but were attributed to the high-base effect from the historic tax holiday from June 1 to Aug 31, 2018," it said.

It added that only Perodua recorded positive y-o-y growth due to a lower base last year arising from supply constraint for its popular all-new Myvi.

The research note also said that the national marques continued to be in the lead as Perodua continued to lead the pack with a higher market share of 41 percent, compared with last year's eight-month performance (8M18) at 37 percent.

"This was followed by Honda and Proton at the same position. Honda registered a lower market share of 15 percent (8M18: 18 percent) with a lower sales growth (-21 percent y-o-y) as consumers held back purchases, expecting new models in the second half this year, which were delayed due to pricing approval issues," it said.

Meanwhile, Proton, which recorded a 37 percent growth y-o-y, gained higher market share of 15 percent (8M18: 11 percent) owing to the higher delivery of the all-new Proton X70, and also supported by the existing face-lifted line-ups.

As of 10.40am, the automotive-related counters; BAuto added two sen to RM2.29, MBM shed one sen to RM4.10, while Tan Chong and UMW were flat at RM1.37 and RM5.06, respectively.

- Bernama