Malaysian vehicle sales down 13 per cent last year, its first decline after six years
Drop attributed to cautious business sentiment and less consumer spending
By Eugene Mahalingam
Malaysian automotive sales plunged 13 per cent year-on-year to 580,124 units in 2016, its first decline after six consecutive years of growth.
Malaysian Automotive Association (MAA) president Datuk Aishah Ahmad attributed the weaker sales to the moderating economy, lower consumer spending and cautious business sentiment.
Vehicle sales hit a record-breaking 666,674 units in 2015.
Going into 2017, the MAA is projecting total industry volume (TIV) to hit 590,000 units.
“Introduction of new models with the latest additional specifications, design styles and at a very competitive prices can assist to sustain buying interest,” Aishah said at a briefing on Malaysia’s 2016 auto sales review.