New vehicle sales in Malaysia plunged by 15.6% to 54,728 units in December from 64,831 units in the same month of the previous year, according to registration data released by the Malaysian Automotive Association (MAA).
This was the market's fourth consecutive monthly decline and reflects weakening demand for passenger vehicles in recent months.
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Full year sales fell by just 0.6% to 576,635 units in 2017, from 580,124 units in 2016, reflecting a stronger market performance early on in the year.
Commercial vehicle sales fell by 5.5% to 61,956 units last year from 65,579 units in 2016, despite an upturn in the second half of the year as economic growth continued to accelerate.
Passenger vehicle sales were flat at 514,679 units last year, compared with 514,545 units previously, with stronger growth earlier in the year offset by declining sales in the last several months.
The MAA expects the overall vehicle market to expand by 2.3% to 590,600 units in 2018, helped by strong global economic growth.
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By GlobalDataThis view is shared by the market's leading brand Perodua which expects its own sales to grow by 2% to 209,000 units this year from 204,900 units in 2017.
