MIER: Auto industry in dismal state TEAMCAR - The automotive industry remains in a dismal state even after the unveiling of the National Automotive Policy (NAP) and is only expected to improve gradually, Malaysian Institute of Economic Research (MIER) found in a survey.

MIER said the industry performance was still less upbeat despite the release of the NAP, stable economy and lower car prices.

Citing the survey findings at MIER's 21st National economic briefing in Kuala Lumpur on July 24, its research fellow Kevin Chew said the Automotive Industry Index (AII) inched up to 77.8 points in the second quarter of the year from 76.7 points in first quarter.

Chew said the NAP had removed some uncertainty, but other factors such as the rise in interest rates, the drop in used car prices, and the escalating cost of living were dampening auto sales.
(THE EDGE)  ¶ 3:33 PM