KULIM: The main distributor of the Mazda automobile models in Malaysia expects to sell up to 2,000 vehicles annually of its new Mazda CX-8 model due to the growing demand for family SUVs in the market.
Despite concerns over the global economy due to the trade war between China and US, there is an optimism outlook within the listed Bermaz Auto Bhd for another solid performance this year in terms of sales and marketing outreach.
Its executive chairman Datuk Seri Ben Yeoh Choon San said that the distributing outfit is comfortable with the sales target of 2,000, as it can consolidate on its niche position as a medium premium range of cars.
The optimism is also derived from a belief that there is no immediate competitor to the CX-8, said Yeoh during the official rollout of the model at its manufacturing hub in the sprawling Inokom Corporation assembly plant.
“We have a three row seating, it is a compact SUV with family needs and our specifications take into account the high safety as well as entertainment needs.”
The nearest competitor to our belief is the Toyota Fortuna, said Yeoh.
The CX-8 is a Mazda CKD (completely knocked-down) locally assembled.
This would likely make its on-the-road price competitive although Yeoh said that the pricing will only be revealed later this month.
Industry insiders are speculating a price range of RM180,000 to RM250,000.
In terms of marketing positioning, Mazda sits at number six in terms of cars sold in Malaysia but its sales have steadily reflected an increase to an extent it has outpaced European premium brands such as Mercedes and BMW.
Since last year, it has increased its market share to 3% on the back of the robust demand for its CX–5 model which sold 15,765 units during the three–month tax holiday period. Its sales volume also surged 66.8% in 2018 from the previous year.
Mazda has four service branches in the country with 68 dealers.
It manufactured 220,000 Mazda models last year from its assembly line in Kulim, where most were exported mainly to the Philippines.
Yeoh expects the CX-8 to also be exported to Thailand and the Philippines.
In the Philippines, all models are imported by Berjaya Auto Philippines Inc, a 60%-owned subsidiary of Berjaya Motor International Ltd, which in turn is a wholly owned subsidiary of Bermaz Motor Sdn Bhd.
Bermaz Auto’s net profit jumped 89.5% to RM265.26 million for the financial year ended April 30, 2019, driven by higher revenue and an improvement in gross profit margin from the domestic operations.
