ARB's (ASX:ARB) second-half Australian aftermarket sales are likely to be impacted by declined February car sales in Australia, according to a Thursday report by the Australian, citing investment and financial services firm Citi.
Citi analyst Sam Teeger notes that the company will face competition in the 4×4 category from Chinese automaker BYD while plug-in hybrid electric vehicles will no longer be free of fringe benefits tax from April.
The investment firm downgraded ARB's rating to neutral and cut its target price by 23% to AU$39.54.
Company shares were down 2% in recent Thursday trade.
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