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Fuel price hike hits vehicle sales in Malaysian

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September 24, 2008

Report: Fuel price hike hits vehicle sales in Malaysian
Malaysian auto sales in August this year slumped 12.5 per cent from a month earlier following the impact of the fuel price hike, according to the Malaysian Automotive Association (MAA).

Sales volume in August dropped to 47,227 units from 53,984 units in the previous month. MAA said passenger cars accounted for 42,864 units of the total figure of 47,227. The remaining 4,363 units were commercial vehicles.

During the first eight months of the year, sales amounted to 379,184 units compared with 313,250 previously. Total production during the period was 361,069 units, including 329,557 passenger cars.

Total production in the corresponding period last year was 286,680 units.

MAA expected sales to continue to drop in September due to higher interest rates, tightening of hire-purchase loans and impact of fuel price hike. It said a shorter working month due to the Hari Raya festive holidays will be another factor for lower sales.

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