MAA-2015-TIV

The Malaysian Automotive Association (MAA) has released the official total industry volume (TIV) figures for 2015, and it appears that despite last year being a challenging one for the Malaysian car industry, it has managed to match and slightly surpass 2014 figures. The total of 666,674 units sold in 2015 is 0.03% higher than 2014’s 666,487 units, and is the highest TIV ever in Malaysian history.

“In spite of the various issues and challenges, and in contrast to the expectation expressed by some analysts, the local automotive industry remained resilient and had performed relatively well in the year under review,” MAA said in a statement.

The matching of 2014 figures was due to a late surge. Sales volume in December 2015 was 23.7% or 13,309 units higher than the previous month (November 2015), and was by far the highest monthly total in 2015.

Malaysia-TIV-trend

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According to MAA, the strong December performance was attributed to aggressive promotional campaigns by industry players which had their financial year ending December 31. Of course, it was also in conjunction with the Christmas and New Year festive season where retailers provide incentives to achieve their annual sales target.

Another unique factor was that consumers were buying forward in anticipation of higher car prices in 2016. In October 2015, UMW Toyota Motor started the ball rolling by announcing that prices of Toyota and Lexus vehicles will go up from 4% to 16% effective January 2016. Honda Malaysia followed suit with a similar announcement.

2015 Mkt Share Perodua

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Earlier this month, Honda, Toyota, Lexus, Kia, Peugeot, Citroen and Audi released new and higher prices, with Proton possibly raising prices after Chinese New Year. Perodua prices will stay put, for now.

MAA’s outlook for January 2016 is negative compared to last month’s bumper sales. The hangover from the promos and the continuation of more stringent hire purchase regulations by banks are cited as factors.