Wednesday, June 8, 2011

Myvi launch brought forward to mid-June

The launch of Perusahaan Otomobil Kedua Sdn Bhd’s (Perodua) new Myvi has been brought forward to June 16 from the earlier scheduled September launch. Bookings for the model were opened last Saturday at all 178 Perodua sales outlets nationwide with a booking fee of RM400. The actual price will only be revealed on launch day.

The new Myvi will be initially launched in six 1.3-litre variants comprising both automatic and manual transmissions. The existing Myvi is available in eight variants, including a 1-litre variant. Perodua expects to generate monthly sales of 8,500 units from the new Myvi.

The Myvi launch is a critical factor in determining the direction of industry sales as it is the best selling model in the market accounting for up to 17% of Malaysia’s TIV in 2009 and 13% in 2010. The previous Myvi generated sales of an average 7,300 units per month during its peak in its second and third years on the market. In 2010 (the Myvi’s fifth year on the market), the model generated average sales of close to 6,500 units per month.

Recall that the new Myvi was originally scheduled for launch in April. However, due to the Japan earthquake and the ensuing supply chain crisis, the launch was understood to be delayed to September.

This, along with expected sales weakness of other Japanese marques, had prompted our earlier TIV forecast downgrade to 590,027 units — which implies a 2.5% year-on-year TIV contraction for 2011 against an earlier expected 3.5% growth. The earlier than expected new Myvi launch could see our TIV forecast raised by 1.6% to 599,710 units from 590,027 units. This still implies a 1% TIV contraction in 2011.

Wah, with this new launch, I supposed there will surely be more MyVi on the road and helps Perodua captures more market share of the local car :)

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