Sales of new cars take a dive in February


The country’s auto sector recorded a dip in sales volume for February due to the Chinese New Year festive holidays.

The latest data from the Malaysian Automotive Association (MAA) released yesterday showed sales volume declined by 4.4% to 40,578 units last month, or 1,877 units fewer than 42,555 units recorded in the same period last year.

The passenger vehicles segment fell by 5.8% to 36,623 cars, whereas the commercial vehicles segment recorded a 10.5% increase to 3,955 units for the period under review.

To date, the sector has registered about 85,153 new vehicles, 2.3% lower from a year ago.

Production volume also declined by 10.9% to 38,416 units against 43,127 for the same month in 2017.

The local automotive industry saw several new car launches last month, including the 2018 Bentley Continental GT, the MINI Urbanite and MINI Amplified, as well as the new facelifted Honda Odyssey.

Last month saw one major development between French carmaker Groupe PSA and Naza Group of Co’s unit Naza

Automotive Manufacturing Sdn Bhd (NAM) setting up the Asean manufacturing hub for PSA-branded cars in Gurun, Kedah.

PSA, Europe’s second-largest car manufacturer that produces Peugeot, Citroën and DS Automobiles, acquired a 56% stake in NAM’s manufacturing hub. However, no deal value was disclosed.

Moving forward, the MAA anticipates better sales volume in March, banking on the longer working month as well as rush for orders from companies with their financial year ending in the month.