Malaysia vehicle sales up by 1.4% in November 2015

Kuala Lumpur: The Malaysia November 2015 vehicle sales figures are up by 1.4% to 56,092 units as compared to the sale of 55,314 units last year in the same month. The data recently released data by the Malaysian Automotive Association (MAA) showed that the growth is slowed as it was a 3% year on year increase in October 2015 vehicle sales.

Malaysia vehicle sales have been a roller coaster ride this year with a lot of ups and down in the sales figures. The uncertainties among businesses this year were mainly because of the weakening ringgit and the implementation of GST bill in Malaysia in April. Although after a continuous fall in figures from August to September the total vehicle sales in October 2015 rose by three per cent, or 1,563 units, to 55,754 units from the 54,191 units in the same month last year as per the reports released by Malaysian Automotive Association (MAA).

It has also been noted that the total industry volume (TIV) in November is noted out to be a 0.5% hike from 55,754 units in October. As per the MAA reports Passenger car sales in November faced a hike of 1.49% to 49,348 units than 48,622 units last year in the same month. Commercial vehicle sales also reported to be increased by 0.77% to 6,744 units as compared to the sale units of 6,692 in November 2014.

MAA reported that the sales increase in November is driven by the aggressive promotional campaigns conducted by the automakers with the news of expected vehicle price rise in 2016. A newer trend is been observed as consumers are buying cars forward anticipating the price increase to save big bucks. This is a good news for the barren market, but it is directly proportional to the sales figures in the year 2016.

Talking about the total number of vehicles purchased in November, MAA said that it rose up to 5.86% to 50,203 units then 47,422 units in the same month last year.

In the production department passenger vehicles faced a growth of 6.67% in November up to 45,747 units as compared to the 42,884 units in November 2014, whereas the commercial vehicle production fell by a huge margin of 1.81% marking only 4,456 units than the 4,538 units last year in November.

Considering the outlook of November vehicle sales and October vehicle sales, MAA expects that the sales volume will continue to show similar results in December 2015 as well.