Spare parts Industry 2H2023 - FACING OBSTACLES IN THE SHORT-TERM
We expect the industry will show positive sales growth in the 2H2023 after experiencing the negative growth in 1H2023. The main reason is the increase of logistic activities. On the one hand, due to price competitive pressure from China tyres, we, however, suppose that Vietnam spare part producers might lower the selling prices to boost sales. On the other hand, the significant reduction of raw material prices and ease of logistic costs could partly compensate the decrease in the output prices in 2H2023. Therefore, profit might improve in 2H2023 though expected to record a negative growth YoY
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