Car sales in Malaysia hit nearly 1.2 million mark in Q1 2013, says report

Global research firm, GfK says in its retail audit report, sales of passenger car tyres in Kuala Lumpur and Selangor have been rising consecutively in the last two years, with the first quarter of this year increasing by 14.6% over the same period in 2012.

Driving the sales are the rising affluence and car ownership, which created a strong demand for passenger car tyres in Malaysia’s booming central region.

Findings also reflected an uptrend in demand for tyres with lower aspect ratios, attributed to the growing popularity of lower profile tires such as 55, 50, 45, 40, as well as 35 and below aspect ratios.

These segments grew 26% in sales volume in the latest quarter; outpacing overall car tyre volume growth of 14.6%. Lower profile tyres, which made up 44% a year ago has grown to make up over 49% of total car tire sales volume.

“Tyre speed rating trends is moving towards those with higher speed with ‘W’ rated tyres increasing in sales importance, as reflected from its escalating contribution towards overall car tyre sales volume from 11% sales contribution in the first three months of last year to over 12% this year,” said Selinna Chin, Managing Director for GfK in Malaysia. “Consequently, the ‘T’ medium speed rated tyres correspondingly declined from 11 to 9% in sales contribution, ” he said.

Following the rising popularity of lower profile tyres in the Malaysian central region, car tyres with rim diameter of 16 inches have emerged as the highest growth segment this quarter, accounting for nearly 18% of total sales volume.

This has led to a lowered demand for the more traditional 13 and 14-inch rims which contributed to 32% in total.

GfK findings also reported a steady and gradual increase in the average price of car tyres sold within the central region from an average of US$77 per piece in March 2011 to an average of US$100 by March this year.

“Newly-launched cars are increasingly being fitted with lower profile and higher speed rate performance tyres to meet the demand of users who seek better safety and comfort without having to compromise on performance,” said Chin, adding, “As the number of cars on the road will inevitably continue to grow, this segment’s rising demand will be the driving force behind the healthy performance of the passenger car tyre industry in the coming years.”.

(IMA)

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