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Malaysia’s vehicle sales slump 29% on year in March

by ChemOrbis Editorial Team -
  • 15/04/2016 (15:49)
According to media reports, internal data from Perusahaan Otomobil Kedua Sdn Bhd (Perodua) showed that Malaysia’s vehicle sales fell 29% on year in March. New motor vehicles fell to 47,700 units in March from 67,300 units a year earlier. The fall in total industry volume (TIV) was attributed to a slowing economy and higher vehicle prices as a result of the depreciating ringgit.

Total industry volume (TIV) is expected to fall by 23% to 130,000 units in the first quarter of this year from 168,306 units in the same period of last year. Perodua’s car production decreased to 48,300 units in the first quarter compared to 60,100 units in the same period of 2015. The company’s car sales in the first quarter also declined by 17.4% to 47,200 units from 57,200 units in the same quarter of 2015.
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