New vehicle sales in Malaysia fell 1.8% to 57,437 units in June, compared with 58,561 units a year earlier, according to the Malaysian Automotive Association (MAA).
Cumulative H1 sales were 3.3% lower at 322,184 units, compared with 333,156 in the same period last year, with the association pointing to weakening domestic sentiment due to tougher lending conditions and rising inflation.
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The Malaysia ringgit has declined by over 8% against the US dollar since the beginning of the year.
Passenger vehicle sales amounted to 286,533 units in the six month period while commercial vehicle sales reached 35,651 units.
The association has lowered its full year market forecast from 680,000 to 670,000 in view of the weaker second quarter sales but this still looks somewhat optimistic as it requires an much improved second half performance.
