The Malaysian Automotive Association (MAA) has released production and sales figures for the month of April 2015, and it seems that after a brief resurgence in March – following a weak showing in January and February – it was a bleak situation again for the local automotive industry last month.
Here’s the full breakdown of how exactly the market fared in April – a total of 37,893 passenger vehicles and 4,284 commercial vehicles resulted in total sales of 42,177 units. That’s 6,623 units (-13.6%) down from the 48,800 vehicles that rolled out of showrooms in March.
What’s more, that total figure is 3,010 units (-6.7) less than the sales mustered during the same period last year, despite the latter being significantly affected by the implementation of the Goods and Services Tax (GST) on April 1, 2015. The year-to-date sales figure up to April 2016 of 173,432 units is also 40,134 units lower than the year before, a drop of some 19%.
The reason given by MAA for the lacklustre showing was due to a more stringent hire purchase loan approvals, along with a more cautious buyer sentiment. Don’t forget, 2016 has seen widespread price increases due to the depreciation of the ringgit, so it’s to be expected that consumers are still a little wary. Sales for the month of May 2016, MAA expects, should remain around the same level of those last month.
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AI-generated Summary ✨
The comments reflect widespread dissatisfaction with the decline in Malaysian car sales, attributing it to high prices, economic slowdown, and strict loan approvals. Many suggest that the high car prices, due to taxes and import duties, are a major barrier, causing Malaysians to delay or reconsider purchasing vehicles. There is a call for lower prices, discounts, and fewer restrictions, with some proposing a boycott for better affordability. Several comments also criticize local car quality, safety features, and government policies, linking the sales drop to economic hardship and political issues. Overall, sentiments are predominantly negative about the current car industry situation, with hopes for price reductions and better consumer benefits amid tough economic times.