Car sales in Malaysia still on shaky ground as Ringgit weakens
After car sales in Malaysia plummeted some 33% after the implementation of the 6% consumption tax on 1 April, it was hoped and expected that the festive season and aggressive promotions would boost sales. There were some really enticing sweeteners offered to coax uncertain car buyers to sign on the dotted line. (See: Car makers offer Raya sweeteners post-GST to boost fallen sales). But total vehicle sales in July still fell 2.69% from the same month last year, according to data from the Malaysian Automotive Association (MAA), even though it was 2.1% higher than June sales, as consumers have decided to “wait and see”. To “see” if car prices will decline? Unlikely to happen. To “see” if their incomes will improve? Unlikely to be enough to matter. Total vehicle sales year-to-date has declined 3.2%, from 393,425 to 380,830 units but MAA forecasts that August sales will continue to go up…slightly.






