New vehicle sales in Malaysia increased by 9% to 44,013 units in February, compared with 40,387 units a year earlier, according to data released by the Malaysian Automotive Association.
The rebound, after a 25% year on year fall in January, was very subdued given the additional working days in the month compared with February 2011 – with the Chinese Lunar New Year holidays falling in January this year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The industry is increasingly concerned that more stringent lending criteria imposed by the government, including higher down payment requirements, will drive the market down this year.
New administrative procedures and additional documentation requirements are also said to have slowed the registration process of new vehicles.
The higher down payment requirements will affect buyers in the entry-level segments most with affordability becoming a significant issue for low income earners.
