ASEAN KEY DESTINATIONS
Malaysia: Car sales seen dropping by 16% in H2
The Malaysian Automotive Association (MAA),expects the total industry volume (TIV), of new vehicles sold in the country to drop by 16.5 percent or 45,874 units for the second half of
2008, reported national news agency Bernama.
MAA president, Aishah Ahmad, said a major portion of the decrease would be from a 28 percent decline in the sale of commercial vehicles followed by the 0.5 percent drop in passenger
She said among the factors considered in the forecast was the impact of higher oil prices, inflation and material costs, the hike in hire purchase interest rates especially for non-national
brands and the fall in liquidity due to a bearish stock market.
Meanwhile, for the first six months of 2008, the TIV of new motor vehicles sold jumped 25.9 percent to 277,973 units from 220,739 for the corresponding period of 2007.
Aishah, speaking at a press conference in Petaling Jaya Wednesday, said passenger vehicle sales amounted to 254,252 units in the first six months the year and accounted for a 91.5
percent share of the TIV.
This share is marginally higher than the 91 percent achieved for the same period in 2007 when the sales volume of 220,739 units was registered.
A total of 23,721 units of commercial vehicles were sold in the first six months this year, accounting for a 8.5 percent share of the TIV.
"The share was marginally lower than the nine percent achieved in the same period for 2007 with a sales volume of 20,287 units," she said.
The total production volume for the first half of 2008 rose 26.7 percent to 263,222 units.This compared to 207,826 units for the same period last year.
The production of passenger vehicles in the first half of 2008 increased by 27.1 percent to 240,572 units compared to 189,336 units previously.
The production of commercial vehicles for the first half the year also grew by 22.5 percent to 22,650 units when compared to 18,490 previously.
Asked about the MAA's hopes for the upcoming Budget 2009, Aishah said: "May be in terms of hybrid vehicles, the government should consider some incentives in the excise and
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