New vehicle sales in Malaysia fell by 1.6% to 54,187 units in October from 55,078 units a year earlier, according to data released by the Malaysian Automotive Association.
The market continued to adjust to tighter credit conditions following the interest rate hikes in July and stricter lending criteria.
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Sales in October improved by 13.4% month-on-month, however, reflecting the recent launch of two key models into the market – the Perodua Axia and Proton Iriz cars
Cumulative sales in the first ten months of the year increased just slightly, to 546,492 units from 543,048 units in the year-earlier period.
