Malaysia’s Auto Sales Post Decline in May
(MENAFN) Malaysia’s automotive market faced a 3.2 percent year-on-year decline in car sales during May, with total units sold reaching 68,007. This drop contributed to a 4.97 percent decrease in the total industry volume (TIV) for the first five months of the year, which fell to 316,737 units.
The Malaysian Automotive Association (MAA) revealed in a Wednesday statement that May’s TIV improved by 12.4 percent compared to April’s 60,527 units. The association attributes this increase to several factors, including more working days in May versus April, ongoing aggressive promotional campaigns, and the fulfillment of vehicle orders made during the first quarter.
Meanwhile, car production experienced a sharper decline, decreasing 11.58 percent year-on-year to 65,970 units in May. Production over the first five months also slid 12.4 percent, totaling 299,866 units.
Looking ahead, the MAA cautioned, "TIV for June is expected to be lower than May due to a week-long plant shutdown during Eid al-Fitr by major makes."
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