New vehicle sales in Malaysia fell by 6.3% to 47,736 units in April, from 50,936 units a year earlier, according to data released by the Malaysian Automotive Association (MAA).
The market continues to be held back by stricter regulations on car loans introduced by the central bank at the beginning of the year. Car buyers now need to make a minimum downpayment of 30% to qualify for a loan.
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Cumulative sales for the four month period fell by 11% to 186,280 units, from 209,368 units a year earlier. Vehicle production was also down in the four-month period, by 2.6% to 186,787 units from 191,767 units a year earlier.
The association still expects vehicle sales to reach 615,000 units in 2012, from 600,123 units in 2011.
