Perusahaan Otomobil Kedua or Perodua expects its vehicle sales to fall by 6%-10% this year due to the economic downturn, Bernama news agency reported on Monday.

“Our sales for the first two months of this year amounted to about 24,000 units, a 10% drop compared to the previous corresponding period,” managing director Syed Abdull Hafiz Syed Abu Bakar.

He attributed the decline to seasonal factors. From March onwards, a clearer indication of how the industry would perform was likely to emerge, he added.

Last year, Perodua sold 167,000 vehicles, up 3% year on year, and currently has a 30.5% market share in Malaysia, the report said, according to Dow Jones.

Syed Hafiz said the company hopes the launch of a new multi-purpose vehicle in the fourth quarter of this year will boost sales.