Malaysia’s new vehicle registrations in August declined by 8pc to 52,800 units from 57,552 units in July but increased by 3pc as compared to 51,148 units in the same month year prior, according to the Malaysian Automotive Association (MAA).
The association said that sales in August decreased due to a shorter working period on account of public holidays observed during the month.
In the January-August period, new vehicle registrations fell by 28.4pc to 285,045 units from 398,319 units in the same period year prior.
Malaysia’s auto production in August stood at 50,228 units, up by 7pc from 47,000 units in the same month last year. In the January-August period, Malaysia’s auto production declined by 30.7pc to 263,876 units as compared to 380,552 units in the same period year prior.
MAA said that the COVID-19 pandemic had disrupted auto production in the country. The association stated that new vehicle sales in September are expected to remain stable due to various campaigns undertaken by auto companies.
Consumers remain cautious with the loan moratorium coming to an end on Sept 30, 2020, it further added. MAA predicted that the country’s auto sector could sell up to 470,000 units of vehicles this year.
|Auto sales and production in August|