Malaysia's new vehicle market continued to shrink in April 2016, by 6.7% to 42,177 units compared with already weak 45,187 sales in the same month of last year, according to the monthly automotive industry report released by the Malaysian Automotive Association (MAA).
This follows a 28% year-on-year drop in sales in March and reflects rising caution as the country's economic growth continued to slow and lenders continued to tighten credit.
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Passenger car sales fell by 7.4% to 37,893 units last month, while commercial vehicle sales were flat at 4,284 units.
Sales in the first four months of the year fell by 19% to 173,432 units, from 213,566 units in the same period of last year.
Vehicle manufacturers cut back production in April, by over 27% to 44,794 units, in response to the sharp fall in sales in March. Year-to-date, production was close to 23% lower at 174,385 units.
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