Motor vehicle sales for April 2007 registered a drop again compared to the same month in 2006 – this time a 17% drop from 40,482 to 33,679. MAA blamed the decline on lack of consumer confidence, difficulty in obtaining hire purchase loans and poor resale value of used cars. In line with lower sales, production for April 2007 was also lower by 26% compared to the same period last year – 33,829 units from 45,718 units.
For the year so far – January to April 2007 compared to the same period in 2006, car sales were lower by 16 percent – 138,629 units this year compared to 164,434 units the previous year. As for April 2007 compared to March 2007 the month before in the same year, the number is also a drop – 12.8 percent or lower by 4,940 units.