MAA February 2016 sales-01

The Malaysian car sales figures for February 2016 has been released by the Malaysian Automotive Association (MAA). As predicted, combined sales for both passenger and commercial vehicles have slumped for the month of February 2016.

A total of 34,126 passenger vehicles and 3,750 commercial vehicles were sold during this month, equalling to a combined total of 37,876 vehicles sold overall. This is 24.8%, or 12,514 units lower than the figure achieved in the same month last year – 50,390 units. The total number is also 15.1% down compared to January 2016 (44,591 units), while the year-to-date figure is 18.3% down on 2015 (82,467 vs 100,992).

According to the MAA, the reason behind the lower sales is due to the shorter working month, and the more stringent hire purchase loan approval from banks. The association, however, is expecting sales to pick up by March 2016, thanks the longer working month and continuation of promotional campaigns by car companies.