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Malaysia’s vehicle sales may fall for first time since 2010

by ChemOrbis Editorial Team - content@chemorbis.com
  • 22/01/2016 (14:43)
According to media reports, Malaysia’s Automotive Association (MAA) stated that vehicle sales in the country are expected to fall for the first time since 2010 this year. The weaker ringgit and slower consumption expectations as well as tighter lending requirements are reportedly affecting the automotive industry while slower global economic growth, plunging oil prices and China’s slowest GDP growth in 6 years are also cited as factors supporting lower sales expectations.

Malaysia’s automotive industry posted a record high total industry volume (TIV) of 666,674 units in 2015 owing to a stable economy and employment rate and higher sales. However, the MAA predicts that 2016’s TIV will fall by 2.5% to 650,000 units before rising by 3% to 669,500 units in 2017, to 686,200 units in 2018, to 702,000 units in 2019 and to 717,444 units in 2020.
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