Carmakers racing to attract buyers

Quick Summary:

Budget 2025 will affect car buyers’ sentiment and determine auto sales for 2024 and into next year, depending on the incentives for the electric vehicle (EV) segment, which will be keenly watched.

EVs sales account for about 3% of market share but is set to grow, once Proton Holdings Bhd (Proton) and Perodua launch their own EVs and the infrastructure to support the electrification of the auto market here is established.

Tesla is estimated to have sold some 4,300 units in the nine months of the year while total EV and hybrid vehicle sales totalled 32,900.

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Article Details

Author / Journalist: BHUPINDER SINGH

Category: EconomyBusiness

Markets: MalaysiaJapanSouth KoreaMaliPeru

Topics: /Business/Business News Auto ElectricVehicles EVIncentives TIVGrowth AutoSales Budget2025

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-18 @ 00:00:00 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 1001 words

Reading Time: 6 minutes read

Sentences: 27 lines

Sentence Length: 38 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 23109490

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 44 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 1 hours ago

Coverage Areas: Malaysia

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Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #22

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