PETALING JAYA (July 24): The Malaysian automotive industry posted a growth of 3.3% year-on-year in vehicle sales for the first six months of 2017 (1H17).

 

For the first half of the year, the Malaysian Automotive Association (MAA) noted vehicle sales improved by 8,978 units to 284,461 units, from 275,483 units posted in the same period of 2016.

 

As for the month of June 2017, sales volume fell 12% or by 7,087 units y-o-y to 50,275 units. The decline was attributed to the short working month due to the Hari Raya festive holidays, MAA said. 

 

Meanwhile, vehicle production dropped 2.9% or by 7,645 units to 255,318 units in 1H17, versus 262,963 units in 1H16.

 

MAA said the lower production volume was due to the cautious stance as well as adjustments made by automobile manufacturers to avoid an overstocked position given the soft market conditions. 

 

"For the first six months of 2017, the total industry volume achieved was 284,461 units, which was equivalent to 48.2% of the MAA's original 2017 forecast of 590,000 units," MAA's president Datuk Aishah Ahmad said during a sales performance briefing today. 

 

"In view of [several] economic and environmental factors, we have decided to maintain our original forecast for 2017. On the back of a more favourable economic outlook, we believe the automotive industry should be able to achieve its TIV forecast," Aishah said.