Malaysian car sales figures for January 2016 are out, and as expected, it’s a subdued start to the new year for the industry.
A press release from the Malaysian Automotive Association (MAA) shows that combined sales for passenger and commercial vehicles for January 2016 is 44,591 units, which is 6,011 units less than the same month last year. Sales are also significantly lower than the 69,401 units recorded last month, December 2015.
The come down is expected after a strong year-end surge that pushed total industry volume (TIV) to an all-time high in 2015, fuelled by heavy discounting and promos by carmakers seeking to clear stock and meet targets. The incentives provided meant that a large amount of sales were concluded and accelerated as consumers took advantage of the promos.
The hangover from the year-end party is expected to carry into February, which is short working month due to the Chinese New Year break. MAA also cites the continuation of more stringent hire purchase loan approval from the banks, which are practising responsible lending with an eye on non-performing loans.
To recap, 2015 was a record breaking year for the automotive industry in Malaysia, with a TIV of 666,674 units, 0.03% higher than 2014’s 666,487 units. The all-time high was achieved in a gloomy economic climate, powered by a late surge as consumers bought forward in anticipation of higher car prices in 2016.
The ringgit’s dismal performance last year against major trading currencies have led to car companies increasing prices of new stock. The start of the year has brought about new and higher prices for Honda, Toyota, Lexus, Kia, Peugeot, Citroen, Audi and Mitsubishi vehicles. Even national carmaker Proton has increased prices by up to 4.6%.
So, will it be a slow year ahead, or will the automotive industry continue to defy predictions and general sentiment, powered by Malaysia’s love for cars and a slew of big launches from both local and foreign brands?
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same goes to bank interest of Hire Purchase are goes up from 2.6% to 3.1% start from January 2016.
The reason that sales are up for last year is due to price hike for 2016 and also the interest. Who’s problem? guys try to figure up.
Nissan already in the move. Toyota will counter bigger with discount soon
My advice to people, stop buying. Use your old car. You see, all car companies in Malaysia are Government owned (directly or indirectly). But a drama goes on to fool the rakyat. Car companies will blame Government for high taxes. Government will blame car companies for not reducing car prices.
All this is fake. The truth is, Government can anytime lower car prices because they own the car companies in Malaysia.
If the Government cared for its rakyat, it won’t make the rakyat pay so much for their cars. Let’s face it, besides home loan, car loan is our biggest burden. Government pandai, they even own the banks. So they hantam you 2x ganda. Firstly with high car prices, secondly, hantam you with longer loans.
In 2016, tell everybody not to buy a car. Let the car companies suffer a bit. Use your old car. Play safe. Let them struggle.
Hopefully Proton sales will go up after Tun’s inspiration speech
If a car sales can be affected by a man’s speech, he must be talking 70% discount or talking kok.
Proton might be producing 150K units of cars this year, only to have fire sales under the coconut trees come this November, December.
But wait. MAI hasn’t chimed in yet.
They forecasted last year to be 700,000. Maybe this year the will forecast 750,000.
MAI is tok kok organisation NO 1. Waste of money to even keep them in operations. Free jobs for lazy people.
Incoming deep discounts & promo. Who doesnt like a buyers market, ehh (besides the seller, that is)?
Banks are very strict on loan approvals apparently, far stricter than previous years.
Looks like a tough year for car sellers all round, new or used, dealer or private.
Proton should offer Buy 1 Free 1 in order to hit target 500,000 units by year 2018.
Proton hardly sold 20,000 last year although they said 100,000 units. The 80,000 units were sold to Government Departments.
How they going to sell 500,000?
I like your statement. Buy 1 new perdana 2.4 at rm140k get free 1 new iriz
Don’t worry Dr M is confident that there will be 50% raise compare to last year figure
You will see Police, Ambulance, Poslaju vehicles, fire trucks, garbage trucks, KLIA1/2 taxi/transit, all using Proton. Sure can raise 50% figure.
John,it is neither a buyer’s nor seller’s market in 2016.
People are afraid to upgrade to new cars,where the prices are over the hill.
Many eat humble pie,drive smaller cars, pre owned units.Why?
Economic downturn,recession loomimg.Banks are tightening lending now.The banks themselves chopped at least 15,ooo jobs.MAS 6000 jobs gone .Protong…layoff coming soon.Petronas,,,layoffs on the verge….There is very little good news.
It is better to be prudent than sorry.
look at malaysia’s largest trading partner,China.
If Donald Trump becomes president of USA,he is going to tax all incoming Chinese goods.So,China is unlikely to recover sooner.I am not pessimistic,but the rakyat be better prepared.
Better to have a lower hire purchase loan with a so so salary than a super high salary job but becoming unemployed after taking a massive 100 percent h/p car loan.Makes sense?
Onli conventional pipu think conventionally. Thats why veri few pipu succeed cuz they dare to go other ways which a lot frown. Theres never a bad time or a gud time to get a car. When theres necessity, even in worse times if u need to travel, u need to get a car. OTOH, if u wanna wait for a gud deal, it onli happens at the end of the model life but within few months, ur brand new car is outdated.
So my advice is to get a decent car that ur budget can afford. Alwiz get a safer car rather a hi-RV one. U cant take that to ur grave when accidents happen. While its tempting to go for 2nd hand, do remember that older models almost alwiz have lesser safety features/stds than newer ones (or near expiring airbags).
So which new car which is decently priced but with gud safety stds, u may ask? Ka-ching! The Proton Iriz. One of PT 2015 Car of the Year.
john cannot see this. In his world, it is about keeping up with the joneses. He must show his neighbour that his car is better, his curtains come from Harrods, his tea cup comes from Selfridges etc.
That is john lifestyle. Earn RM10k per month, but spend RM15k per month. But must show jiran and the world they got better car, clthes, house etc
Yes. I earn 10k and keep up with the jones, by buying a Proton??? Do u even read what u just wrote???
Hope for the best but prepared for the worst.
Tun should talk more to drive up the sales of Proton
This is Party Hard style. Even if u 1 person, if u shout loud enuff, some will get brainwash
Support P1 = Support Tun M = Support Party Hard
Harga kereta naik, bank interest naik, expenses life pun naik, siapa yang bodoh nak beli kereta sekarang??
Woohoo buyers market, can make those salesman grovel like an animal for one sale.
Variance of monthly sales in jan 2016 vs. jan 2015 is 0.88?
wtf is 0.88 (as in what format is that) when the preceding figures (monthly sales) were presented in number (format). Trying to mask the sales decline, is it?
The variance should be presented in two formats.
Format 1 (number) i.e. 6,011 …. and..
Format 2 (percentage) i.e. -12%
This sort of sly reporting is a disgrace. MAA should be a shame of themselves.
Unashamedly trying to mask the decline of sales.
For a start, sales in jan 2016 for sure will be lowered than dec 2015. That’s given.
But when sales in Jan 2016 is lower than Jan 2015, its an indication or rather a confirmation of the strength of negativity that is engulfing the market.
A 12% decline on month-on-month (jan16 vs. jan15) performance is something not to be ignored. Its something that to be worried about.
you are just stupid
No need to buy new car, just use UBER instead.
Car salesmen waiting patiently 10% of 1.5m Bangladeshis workers can contribute to all time high sales.
It will be great if PT can also publish the sales figures of other ASEAN countries e.g. Thailand, Indonesia, Singapore etc.
That way, we can see and keep abreast with the sales trend within ASEAN too.