MAA : Vehicle sales decline by 1.4% year-to-date for September 2015

Kuala Lumpur: New vehicle sales continued to decline in September with a Total Industry Volume (TIV) of 51,106 units registered during the month. This was 2,346 units or 4.4% lower than the August TIV. However, compared to the same month in 2014, the volume was higher (51,106 units versus 47,771 units).

The total vehicles sold for the month of September this year, includes 45,245 units of passenger cars and the remaining 5,861 units of commercial vehicles. The downward trend in the auto market is due to uncertainties resulting for the weakening ringgit as well as the gloomy outlook for the economy.

The reduced sales in September mean that the year-to-date TIV gap with the same period in 2014 is widening. In the 9 months of 2015, the cumulative TIV reached 485,338 units whereas for the same period in 2014, it was 492,322 units.

Read Also: August 2015 car sales dips 8.9%, falling ringgit might be the cause

MAA said the lower sales volume was due to the continuation of uncertainties among businesses due to weakening ringgit and gloomy economic outlook. “Consumers sentiments remained weak.”

This means that in order to achieve the 670,000 units, which the MAA has forecast for 2015, the volume for the remaining three months of the year will need to average 61,500 units.

Local production number of the vehicles built this year is still higher than last year as the cumulative output in 9 months totalled 463,388 units compared to 452,167 units for the same period in 2014. The total count of cars built particularly for the month of September 2015 was recorded at 45,734 units (41,386 passenger cars, 4,348 commercial vehicles) that shows there is a decrease of 3,745 units compared to the month of September 2014.

Read Also: MAA - Sales figure rises in July 2015, still lower than 2014

On the outlook for October, MAA said, sales volume was expected to be maintained at the September level supported by continuation of aggressive year-end promotional campaigns. But, it didn't happen so! Also, in the coming months, few companies are planning to announce the hiked prices of their vehicles. Thus, we believe that the MAA will not see any rising sun in the coming future of the industry. Although, year end might increase the sales count for the companies with the coming 'New Year' month, so, prepare yourself to enjoy some good deals at the same time!