New vehicle sales in Malaysia fell by 9.4% to 46,045 units in May, from 50,845 units a year earlier, according to data released by the Malaysian Automotive Association.
The association blamed the volume decline on lower domestic output, due to supply-chain disruption caused by the devastating earthquake in Japan in March. It added that continued sluggish production means that current market conditions will likely continue in June and into July.
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The MAA also said it was too early to assess whether recent amendments to the hire purchase act had a negative bearing on the market. The changes are designed to protect consumers from losing booking fees and deposits although some dealers have suggested that the regulations make the process much more drawn out and affect their cashflow.
