RHB

RHB Investment Bank Predicts Bright Future for Automotive Industry

Exciting news from RHB Investment Bank on the automotive sector's growth post-Aidilfitri!

RHB Investment Bank Bhd (RHB IB) has recently raised its 2024 Total Industry Volume (TIV) forecast by a significant 18%, pointing to the strength of Perodua in the market. This revision sets the stage for a promising outlook in the automotive industry. Additionally, RHB Retail Research is optimistic about Tafi Industries Bhd (KL:TAFI), suggesting a potential uptrend continuation after a bullish breakout. This positive sentiment indicates a favorable trend in the stock market.

On the financial front, Gamuda Bhd (KL:GAMUDA) could see a core net profit increase of up to 12% in the third quarter. The improved billings from overseas projects are expected to drive this growth. Moreover, the Auto & Autoparts Sector has shown robust Total Industry Volume (TIV) growth following Aidilfitri, with a notable 18% month-on-month increase reported by RHB Investment Bank. This surge in production volume reflects a strong performance in the sector.

In recent months, the automotive industry has witnessed promising developments, with RHB's forecast adjustments painting a positive future. Tafi Industries and Gamuda Bhd are poised for potential growth, indicating a bright outlook for investors. The post-Aidilfitri momentum in the Auto & Autoparts Sector signals continued progress and market activity.

As the automotive sector continues to thrive, investors are keeping a close eye on the performance of key players like Perodua, Tafi Industries, and Gamuda Bhd. These companies' growth and financial stability are driving factors in shaping the industry's landscape, offering lucrative opportunities for stakeholders.