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Malaysia's automotive industry volume at all-time-high

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Malaysia's automotive industry volume at all-time-high Empty Malaysia's automotive industry volume at all-time-high

Post by Cals Wed 22 Jan 2014, 19:09

Malaysia's automotive industry volume at all-time-high
Business & Markets 2014
Written by Bernama   
Wednesday, 22 January 2014 13:42

PETALING JAYA (Jan 22): Malaysia's automotive total industry volume (TIV) hit an all-time high high of 655,793 units in 2013, up 4.5 per cent against 627,753 units in 2012, the Malaysian Automotive Asociation (MAA) announced today.

This record figure outperformed MAA's forecast of 640,000 units. 

MAA's President Datuk Aishah Ahmad said this is the fourth year in a row that the local automotive industry surpassed the 600,000 mark since 2010 of 605,156 units.

"The all-time-high performance last year was due to aggressive sales campaigns by car companies as well as innovative and attractive offers and schemes for new car buyers.

"Consumers' sentiment in 2013 was also positive due to stable employment market coupled with normalisation of vehicle sales starting in the third quarter, resulting in the TIV in that quarter to increase by 12 per cent compared to the previous quarter," she told a media briefing here today.

Aishah however forecast a slower TIV growth of 2.0 per cent for this year to 670,000 units on expectations of rising cost of living, which would result in consumers downsizing their assets. 
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