Malaysia's 2007 auto sales dwindle
Thursday, July 26, 2007
MALAYSIA'S new vehicle sales are expected to fall six per cent to 460,000 units this year, as buyers encountered difficulty in securing loans and used car prices were weak, a trade body said yesterday.
The forecast of the Malaysian Automotive Association reverses its earlier call for 1.9 per cent growth in new vehicle sales. Sales of passenger cars were seen falling seven per cent this year to 415,000 units, the association said. A total of 220,739 new vehicles were sold in the first six months of 2007, down 12 per cent from a year earlier, with passenger car sales accounting for 200,454 units of the total, down from 228,323 a year earlier.
Vehicle sales in the second half are expected to increase 8.4 per cent from the first half, as hire-purchase conditions ease, the association said. "We are expecting better sales in the second half. Hire-purchase financing is not as stringent as before," Aishah Ahmad, president of the association, told reporters
National carmaker Proton was the biggest loser, with sales plunging 22 percent on-year to 46,955 units in the first six months of the year. Proton's share of Malaysia's passenger car market shrank to 23 per cent, from 26 per cent in the same period last year. Compact carmaker Perodua, which is partly owned by Japanese minicar maker Daihatsu Motor Corp, maintained its pole position with a 37.7 per cent market share even though sales dipped slightly by five per cent to 75,483 units in the first half of 2007.
Japan's Toyota Motor Corp remained the best-selling foreign car, capturing 16 percent of the market in the first six months, followed by rivals Honda Motor Co and Nissan Motor Co. Agencies
The forecast of the Malaysian Automotive Association reverses its earlier call for 1.9 per cent growth in new vehicle sales. Sales of passenger cars were seen falling seven per cent this year to 415,000 units, the association said. A total of 220,739 new vehicles were sold in the first six months of 2007, down 12 per cent from a year earlier, with passenger car sales accounting for 200,454 units of the total, down from 228,323 a year earlier.
Vehicle sales in the second half are expected to increase 8.4 per cent from the first half, as hire-purchase conditions ease, the association said. "We are expecting better sales in the second half. Hire-purchase financing is not as stringent as before," Aishah Ahmad, president of the association, told reporters
National carmaker Proton was the biggest loser, with sales plunging 22 percent on-year to 46,955 units in the first six months of the year. Proton's share of Malaysia's passenger car market shrank to 23 per cent, from 26 per cent in the same period last year. Compact carmaker Perodua, which is partly owned by Japanese minicar maker Daihatsu Motor Corp, maintained its pole position with a 37.7 per cent market share even though sales dipped slightly by five per cent to 75,483 units in the first half of 2007.
Japan's Toyota Motor Corp remained the best-selling foreign car, capturing 16 percent of the market in the first six months, followed by rivals Honda Motor Co and Nissan Motor Co. Agencies
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