The Malaysian Automotive Association (MAA) has released vehicle production and sales figures for August 2015, which show that the auto industry saw sales of 53,452 units last month. That total is 2,326 units or 4.5% higher than the same month in 2014, but 5,194 units lower than the preceding month, July 2015.
The 8.9% drop is a continuation of a weak trend, caused by a combination of factors. MAA cites uncertainties among businesses due to the weakening of the ringgit (the RM is currently trading at 4.3 to the US dollar, and is Asia’s worst performing currency this year), a gloomy overall global economic outlook and consumers who remain cautious in spending on big ticket items as a result.
Year-to-date sales till end-August is 434,282 units, 10,269 lower than the same period last year. MAA has revised downwards its TIV forecast for 2015, from the original 680,000 to 670,000 units, of which 591,800 are expected to be contributed by passenger vehicles, down from the original 600,700 units. 670k is still 0.5% higher than the 2014 TIV of 666,465 – will the target be hit?
Should the ringgit continue to slide against major currencies such as the USD and euro, car prices could be heading north in the near future.
“If the situation continues, I do not rule out the possibility of price increases by early next year. Last year, when ringgit was at RM3.80 to RM3.90 to the euro, we did not discuss about currency, but now we talk about RM4.90 per euro and this is a significant devaluation and creates pressure,” BMW Group Malaysia CEO Alan Harris said last week.
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Whatever…
Just hold our puchase until price really drop.
When the buying stop, the killing can too.
Do you think the price can go down if our RM keep falling??? When to kill??
I have to be very honest, my sales is not affected much.
ringit sudah turun! pujilah kerajaaan!!!
BMW Msia so clever.
When EUR dipped <RM4, profit all keep to themselves. Still super stingy, gave 2 years warranty only. Sheeps don't question anyway.
Now EUR near RM5, "we will bankrupt!", mak ko hijauuu
inb4 tak kesah, helmet RM47k mampu, vape RM17k mampu, haters gonna hate.
5 years warranty la now. Volvo fan cannot read kah?
How old are you?
defending BMW who is very conservative with design?
BMW sounds old man in 2015.
Benz has taken bold and brave design and beat BMW sales figure 2x. Which never happened in Malaysia’s history.
just let BMW increase price.
We have switched to Benz.
Not sure how old is he, but one thing very sure; he is much smarter than you.
Volvo haters butthurt until dunno how to read?
When EUR was <RM4, which was a long time ago, BMW Msia still lcly give 2 years warranty only. Only just recently start give 5 years warranty, hah, the market already moved to Merc by then. Now sound despo, EUR naik tak sampai RM5 pun, da paranoid "if tak naik harga, we will bankrupt!"
Jelly Volvo owners' 5+5+5 peace of mind lettew, meanwhile ownself butthurt Banyak Masuk Workshop Banyak Makan Wang. Next, gonna attack Volvo made in China, no RV. Haters gonna hate~
Economy still very strong,
Look at KFC, everyday still full.
RM turun, beli la P1 & P2
Should be the other way around. RM turun, should buy an imported marque before they jack the price up.
Thanks again paultan team for the monthly figures!
Where is that MAI fellow and MITI who proudly stated this year would exceed TIV of 700,000?
Time to eat your own words, eh?
This is even worst when you take into consideration every manufacturer is giving big discounts and ready stock from the yard. No bites.
We may even see even bigger discounts later in the year when they start clearing year end stocks.
lol..they already revise those figure to 670k several month ago. Dont u read 28th July paultan article?
That fella even trumpeted car scrap scheme that will drives up the car sales 700k units even before MITI minister can confirm it or not. Eventually minister denied such scheme and scrapped it off. Such a clown running through the automotive industry. Truly a joke.
more worries come when price throwing but the people still dare not to spend.
Factories keep shutting down or retrenching one by one, who dares to do ‘life investment’ on cars.
Eating KFC is only a one-time events. Car is a monthly occurrence and probably cost someone’s 50% of monthly salary.