MAA: Vehicle sales down 18% in February

By AFIQ AZIZ / Pic By MUHD AMIN NAHARUL

The local automotive sector registered slower sales in February as the total industry volume fell by 18%, or 8,612 units lower, compared to January 2019.

The Malaysian Automotive Association (MAA) said in a statement yesterday the decline in sales was due to the short working month, in conjunction with the Chinese New Year festive holidays.

Sales of new vehicles fell 1.8% to 39,838 units in February compared to 40,563 units recorded in the same month in 2018.

However, sales for passenger vehicles slightly rose by 0.4% in February this year to 36,749 units, compared to 36,605 units last year, which translates into a 6% increase or 81,013 units year-to-date (YTD), compared to 76,572 units last year.

In total, 88,288 vehicles were sold YTD, 3.7% higher than the 85,123 units recorded in the corresponding period last year.

Meanwhile, automotive production recorded a steady growth with 40,249 units being manufactured last month, slightly higher than 38,416 units registered last year.

Accumulatively, vehicle production reported in January and February this year fell by 10% to 94,752 units, which were contributed fairly by both the commercial and passenger segments.

MAA projected a better sales volume this month, attributed to a longer working period and the original equipment manufacturer rushing to deliver their stocks to close the financial year ending March 31, 2019.