The Malaysian Automotive Association (MAA) held a market review for the first half of 2020 in Petaling Jaya today. In the press conference, MAA president Datuk Aishah Ahmad revealed that while total industry volume has taken an expected big hit from Covid-19 and the movement control order (MCO) to contain the coronavirus spread, certain segments have been doing well.
When replying a question on the effects on the auto market MAA is expecting once the six-month bank loan moratorium ends, Aishah said that there will be an impact after September, although not across the board. Premium cars should continue to do well, as the affluent will continue to have funds to spend.
“It depends on the category of vehicles. I think the high end vehicles will not be affected – people who have the money, still have the money, but it’s more the low end cars,” she said.
What the long-time MAA chief said next was surprising. Apparently, the Malaysian used car market is currently doing “roaring business”, and the growth has even surprised the used car dealers themselves. “Right now, as far as used cars are concerned, they’re doing roaring business – more than 100% improvement (year-on-year, compared to the the first half of 2019).
“Especially for cars that are below RM30,000, out of KL, they’re doing very well. Even the used car association is very surprised at the demand,” she added, explaining that this trend is because of Covid-19. “People are hesitant to use public transport. They feel it’s safer to be driving their own cars,” Aishah said.
So there you go, while the general business outlook is uncertain no thanks to this unprecedented pandemic, Malaysians are still buying cars and certain sub-sectors are doing well.
If you’re tempted by the prospect of a good used/recon car deal, check out our buying guide detailing the things to look out for before shaking hands.
Looking to sell your car? Sell it with Carro.
I hate dealing with used car dealers. Just take a look at the advertisements on Mudah for example.
The year of manufacturer is normally wrong unless verified by Mudah.
The advertised mileage is normally fake. Try asking for the service record and they will say missing.
And finally, the advertised price doesn’t include the HANDLING FEES! That alone adds another 10% to the price.
Given a choice I will seek a personal sale over these unscrupulous dealers.
Abang-abang carik Civic FD seken style & powerr
The year of manufacturer verified by Mudah also can’t be trusted. Have to see the VIN only can know for sure.
So 2nd hand dealers don’t need G’s help.
Hopefully it’s also good news for those who are looking to sell off their vehicles.
100% growth of cars sold to 2nd hand dealers because rakyat have confidence in Malaysia Lagi Baharu to buy new cars now. Yahoo!
Used Lexus Myvi & Lexus Axia selling like hot cakes
I think used cars business increases not bcoz of people are hesitant to use public transport.
My personal opinion would be people starting to realize that buying 2nd hand cars are much better than buying new car.
Lots of very good choice at 30k and below.
Premium, executive, to beat up…spoilt for choice.
All the above is minus cheating used car dealers lah….
Good to see 2nd car sale business is picking up.
Just be careful with shady car salesman out there with their “too good to be true” offer.
I have bought three used cars for my personal use and have used them for many years. First thing to do after taking possession is to change all the oils and fluids ( engine oil, brake fluid, gearbox and axil oils, power steering fluid) tyres check, brake pads and whatever nessesary.
Used car dealer online listing 90% + mostly are bait