Vehicle sales in Malaysia rose by 25% in May to 47,931 units compared with 38,327 a year earlier, according to the Malaysian Automotive Association (MAA).
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Passenger car sales accounted for 43,642 units of the total and commercial vehicles 4,289 units.
The sharp increase came amid falling consumer and business confidence as inflation and interest continue to climb. Petrol prices were hiked by 41% earlier this month to MYR2.70 per litre ($US0.82) and diesel by 63% to MYR2.58 in response to record-high fuel prices.
The MAA expects vehicle sales to be affected by the fuel prices increases in the second half of the year. Buyers are expected turn to smaller cars and purchases could also be delayed as economic uncertainty increases.
Cumulative sales for the first five months of the year amounted to 228,984 units – 29.4% higher than the 176,956 units sold in the same period of last year. Passenger car sales amounted to 209,616 units and commercial vehicles 19,368 units during this period.
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By GlobalDataNew models from Proton, including the new Saga launched in January and the Persona last August, have helped drive volumes higher.
Vehicle production in the country rose by 4.5% to 42,558 units in May, from 40,741 units a year earlier. Passenger vehicles accounted for 39,249 units and commercial vehicles 3,309 units.
In the first five months of the year, production was up by over 30% to 217,637 units, from 166,693 units a year earlier.
