ASEAN KEY DESTINATIONS
Car sales pick up in October: BATA report
Brunei: CAR sales increased by 4.3 per cent in October 2015 from the previous month, the latest statistics from the Brunei Automobile Traders Association (BATA) showed.
According to BATA, a total of 1,088 passenger and commercial vehicles were sold in October, which is up from the 1,043 vehicles sold in September 2015.
Car sales in the 1,301-1,500cc category continued to be the vehicle of choice for consumers with sales of 265 units, down from 272 units from the previous month.
This was followed by cars in the 1,001-1,300cc category with sales of 158 units.Sales of cars in the 1,501-1,600cc category kept its third position from last month with 124 units which is slightly up from 122 units sold in September.
Toyota, a Japanese car brand distributed by NBT (Brunei), maintains its top spot with sales of 245 passenger and commercial vehicles.
Another Japanese brand, Suzuki which is distributed by Boustead Sdn Bhd, followed with 117 units while Korean car brand Kia, distributed by Grand Motors Sdn Bhd, sold 113 units.
The Toyota Vios also maintained its position as the bestselling car in October with sales of 54 units. This is followed by the Kia Rio with 39 units and the Suzuki Celerio with 38 units.
BATA said that a total of 12,157 passenger and commercial vehicles have been sold as of October 2015.
According to Brunei’s central bank in September, car sales are a highly cyclical business and are subject to calendar seasonality, technological cycle and business cycle.
Autoriti Monetari Brunei Darussalam (AMBD) said this in response to industry insiders who previously attributed lower car sales due to tighter lending regulations imposed by the central bank.
The technological cycles increases the demand for new cars therefore attracting more consumers while a cyclical economic downturn reduces demand and encourages car owners to hold onto their existing cars for a longer time, AMBD said.
The financial regulator also said that more Bruneians now prefer to invest in appreciating assets as evidenced by the increasing demand for home financing rather than cars which depreciate over time.
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